---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-037115"
form_type: "8-K"
ticker: "SIDU"
cik: "0001879726"
company_name: "Sidus Space Inc."
filed_at: "2023-10-13T23:59:59+00:00"
generated_at: "2026-06-10T00:15:27.885704+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Sidus Space raises $2M via convertible preferred and warrant offering; board declassified

## Summary
- Gross proceeds $2M from registered direct offering of 2,000 Series A Convertible Preferred shares, convertible into ~19.7M common shares at $0.10152/share.
- Concurrent private placement of warrants to purchase up to 19.7M common shares at $0.10152, exercisable for 5 years.
- Series A Preferred carries 10% annual dividend (20% upon triggering event) and full-ratchet anti-dilution protection.
- Board declassified via Bylaws amendment on Oct 9; stockholder approval sought for Nasdaq rules with 61% voting support secured.

## SEC filing metadata
- accession: 0001493152-23-037115
- form_type: 8-K
- ticker: SIDU
- cik: 0001879726
- company_name: Sidus Space Inc.
- filed_at: 2023-10-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1879726/000149315223037115/0001493152-23-037115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1879726/000149315223037115/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-037115
- JSON: https://secwatch.observer/filing/0001493152-23-037115.json
- Plain text: https://secwatch.observer/filing/0001493152-23-037115.txt

## Key facts
- Governance Changes
  Sidus Space Inc.: Declassified the Board of Directors by amending the Amended and Restated Bylaws (effective 2023-10-09).
  - Change: bylaw amendment
  - Effective: 2023-10-09
  source text: On October 9, 2023, the Board approved an amendment to the Bylaws to declassify the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879726/000149315223037115/0001493152-23-037115-index.htm
- Governance Changes
  Sidus Space Inc.: Filed Certificate of Designations for Series A Convertible Preferred Stock (effective 2023-10-12).
  - Change: charter amendment
  - Effective: 2023-10-12
  source text: On October 12, 2023, the Company filed the Certificate of Designations of Preferences, Rights and Limitations of Series A Preferred Stock (the “Certificate of Designations”), designating 2,000 shares of Series A Preferred Stock, with the Secretary of State of the State of Delaware.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879726/000149315223037115/0001493152-23-037115-index.htm
- Material Agreements
  Sidus Space Inc. entered into Purchase Agreement with certain institutional investors valued at $2 million (effective 2023-10-11).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain institutional investors
  - Value: $2 million
  - Effective: 2023-10-11
  source text: On October 11, 2023, Sidus Space, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional investors, pursuant to which the Company agreed to issue and sell to such investor, in a registered direct offering (the “Offering”), an aggregate of 2,000 shares of the Company’s Series A convertible preferred stock, par value $0.0001 per share and stated value of $1,000 per share (the “Series A Preferred Stock”) at an offering price of $1,000 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1879726/000149315223037115/0001493152-23-037115-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.