11X Stock Market Accelerator Summit

Eric Fry reveals how an A.I.-based secret could make you up to 11 times RICHER on the same stocks you’re investing in now… without using options, leverage, or anything risky.

Wed, September 27 at 8:00PM ET

Why Is Sidus Space (SIDU) Stock Down 29% Today?


  • Sidus Space (SIDU) stock is sliding after announcing a public share offering.
  • This includes 30.30 million shares priced at 33 cents each, as well as warrants.
  • Sidus expects to raise $10 million from the offering.
SIDU Stock - Why Is Sidus Space (SIDU) Stock Down 29% Today?

Source: T. Schneider / Shutterstock.com

Sidus Space (NASDAQ:SIDU) stock is losing ground on Friday after the company announced details of a public offering of its shares.

The public stock offering has Sidus Space offering up 30.30 million shares of SIDU stock. There’s also an equal amount of warrants bundled together with those shares. These warrants can be used to purchase additional shares of SIDU stock.

The units offered in this public stock offering are priced at 33 cents each. This has the company expecting to raise $10 million from the offering. The company will use these funds for “sales and marketing, operational costs, product development, manufacturing expansion” and other purposes.

Sidus Space notes that there’s also an option for underwriters to acquire another 4.54 million shares, pre-funded shares or warrants. Underwriters Boustead Securities, LLC and EF Hutton have 45 days to exercise this option.

How This Affects SIDU Stock

It’s unsurprising that shares of SIDU stock would lose value alongside a public offering. These types of offerings are unpopular with investors for a couple of reasons. That includes diluting current stakes, as well as devaluing the stock.

Following the public offering news, some 1.5 million shares of SIDU stock have changed hands. For comparison, the company’s daily average trading volume is about 5.5 million shares. Also, SIDU stock is down 29.4% during pre-market trading today.

Investors looking for more of the most recent stock market news will want to keep reading!

InvestorPlace is home to all of the hottest stock market news traders need to know about on Friday! That includes why shares of U Power (NASDAQ:UCAR), Amazon (NASDAQ:AMZN) and Wang & Lee Group (NASDAQ:WLGS) stock are moving today. You can read up on all of this at the links below!

More Friday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/why-is-sidus-space-sidu-stock-down-29-today/.

©2023 InvestorPlace Media, LLC