Sidus Space Inc. (SIDU): M&A transaction — Sidus Space acquires Exo-Space edge AI assets for $468k cash plus stock options

Sidus Space Inc.

Acquisition closed Aug 21, 2023; total cash consideration ~$468,000.
Issued inducement stock options for 3,955,212 shares at $0.16 exercise price (close on Aug 21).
Exo-Space provides edge AI hardware/software for space; brings revenue stream through 2025.
Deal projected to positively impact Sidus EBITDA and expand Earth/space observation offerings.
Four Exo-Space employees (Allam, Lariviere, Lorden, Schaar) join Sidus with options vesting over 4 years.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Sidus Space Inc. completed an acquisition involving Exo-Space Inc. for approximately $468,000 in cash (closed 2023-08-21).

Action: acquisition
Counterparty: Exo-Space Inc.
Consideration: approximately $468,000 in cash
Closing: 2023-08-21

Exact text from the filing

and machine learning technology and software used for the on-orbit processing of data (the “Business”) from Exo-Space. The purchase price for the Assets was approximately $468,000 in cash. In addition, on August 18, 2023, the Company entered into a Sale of Business Non-Competition and Non-Solicitation Agreement with Exo-Space Inc. and each of Jeremy Allam

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Sidus Space Inc. entered into Asset Conveyance Agreement with Exo-Space Inc. valued at approximately $468,000 in cash (effective 2023-08-18).

Action: entry
Agreement: asset purchase
Counterparty: Exo-Space Inc.
Value: approximately $468,000 in cash
Effective: 2023-08-18

Exact text from the filing

On August 18, 2023, Sidus Space, Inc. (the "Company") entered into an Asset Conveyance Agreement (the "Purchase Agreement") with Exo-Space Inc., a Delaware corporation ("Exo-Space"), and certain shareholders thereof.

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Sidus Space Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-029820

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