Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 1347

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 1347
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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. Each share of Series A Preferred
Stock is convertible into shares of the Company’s Class A Common Stock at an initial conversion price of $10.152 per share (the
“Conversion Price”). The Conversion Price is subject to customary adjustments for stock dividends, stock splits, reclassifications
and the like, and subject to price-based adjustment, on a “full ratchet” basis, in the event of any issuances of Common Stock,
or securities convertible, exercisable or exchangeable for Common Stock, at a price below the then-applicable Conversion Price (subject
to certain exceptions). The Series A Preferred Stock (and the shares of the Company’s Class A common stock (the “Class A
Common Stock”)) underlying the Series A Preferred Stock) were offered by the Company pursuant to its shelf registration statement
on Form S-3 (File No. 333-273430), which was originally filed with the Securities and Exchange Commission (the “SEC”) on
July 26, 2023 and declared effective by the SEC on August 14, 2023. Concurrently with the sale of the Series A Preferred Stock, pursuant
to the Purchase Agreement in a concurrent private placement, for each share of Class A Common Stock issuable upon conversion of the Series
A Preferred Stock purchased by the investor, such investor received from the Company an unregistered warrant (the “Warrant”)
to purchase one share of Class A Common Stock (the “Warrant Shares”). Each Warrant will be exercisable for one share of the
Company’s Class A Common Stock at an exercise price of $10.152 per share, will be exercisable immediately upon issuance, and will
have a term of five years from the date of issuance. The exercise price is subject to customary adjustments for stock dividends, stock
splits, reclassifications and the like, and subject to price-based adjustment, on a “full ratchet” basis, in the event of
any issuances of Class A Common Stock, or securities convertible, exercisable or exchangeable for Class A Common Stock, at a price below
the then-applicable exercise price (subject to certain exceptions).

During
the years ended December 31, 2024 and 2023, 372 and 1,628 shares of Series A convertible preferred stock and a related dividend