secwatch.observer — SEC 8-K summary
======================================

Issuer:     Sidus Space Inc. (SIDU)
CIK:        0001879726
Form:       8-K
Filed at:   2023-10-13T23:59:59+00:00
Accession:  0001493152-23-037115
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 3.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1879726/000149315223037115/0001493152-23-037115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1879726/000149315223037115/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-037115

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer