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Satellite maker Sidus Space plans $13.4m IPO

By Kevin Donovan

13:40, 13 December 2021

Sidus Space satellite concept
Sidus Space has contracts with NASA, L3 Harris and the International Space Station – Photo: Sidus Space Inc.

Sidus Space plans to sell 3 million shares to the public to raise $13.4m (£10.1m), assuming a $5 per share offering price, the company disclosed. An offering at that price values the company at $81m.

Boustead Securities is acting as sole-lead underwriter for the offering. No closing date was disclosed. Sidus Space has applied to trade over the Nasdaq exchange under the proposed ticker “SIDU”.

New satellite launch

Proceeds from the initial public offering (IPO) are expected to go towards sales and marketing efforts, as well as helping launch its Constellation Satellite initiative, currently expected to generate revenue in the fourth quarter of 2021. Specifically, Sidus Space’s LizzieSat-1 low-space satellite is expected to launch from the International Space Station (ISS) in 2022.

Merritt Island, Florida-based Sidus Space is an independent contractor for public– and private sector outer space satellite and exploration services, offering complete administration of its own low-orbit, 3-D printed, space satellite. Described as a Satellites-as-a-Service company, Sidus Space has contracted with NASA, L3 Harris and the ISS.   

Expenses rise in 2021

Sidus Space reported a net loss of $1.32m, or $0.13 per share, on $885,000 in revenue through the first nine months of 2021 compared to $0.12 per share on $1.5m in revenue for the first nine months of 2020.


26,617.05 Price
-0.130% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 85.00

Oil - Crude

90.14 Price
+0.770% 1D Chg, %
Long position overnight fee 0.0415%
Short position overnight fee -0.0634%
Overnight fee time 21:00 (UTC)
Spread 0.030


14,710.90 Price
+0.190% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0039%
Overnight fee time 21:00 (UTC)
Spread 7.0


1,596.65 Price
+0.330% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 5.40

For the full year 2020, Sidus Space lost $1.54m, or $0.15 per share, on $1.81m in revenue.

Performance through the first three quarters of 2021 were negatively impacted by a 122% increase in pre-IPO related expenditures, including increased hiring and advisory costs, Sidus added in its prospectus supplement.

CEO Carol Craig, through her sole ownership of Craig Technical Consulting, currently holds 10 million, or 96.9%, of Sidus Space’s total equity, which is expected to decrease to 94.2% after selling into the IPO. No other executive currently owns any Sidus Space equity.

Craig, a US Navy veteran, formed Craig Technologies at her kitchen table in 1999 and grew it into a multi-million dollar enterprise in less than 15 years.

Read more: Jeff Bezos going to space, FAA approved

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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