Company: SIDU
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001742
Chunk: 164

Company: Sidus Space Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 164
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 Fee of $120,000 shall be paid in lieu of the Reservation
Fee. On February 1, 2021, the Vendor submitted the license filing to the ITU and on April 6, 2021, the ITU published the license filing
for LIZZIE IOMSAT. Payments began in February 2021. For the years ended December 31, 2024 and 2023 the Company recorded payments of $120,000
in Other General and Administrative expenses. These are eliminated upon consolidation.

    F-20

Note
15. Stockholder’s Equity

Authorized
Capital Stock

Effective
July 3, 2023, the Company filed Amended and Restated Certificate of Incorporation to amend for authorized capital stock to authorize
the Company to issue 215,000,000 shares.

The
Company has authorized 5,000,000 shares of preferred stock with a par value of $0.0001.

The
Company has authorized 210,000,000 shares of common stock with a par value of $0.0001, consisting of 200,000,000 shares of Class A Common
Stock and 10,000,000 shares of Class B Common Stock. The Class B Common Stock is entitled to 10 votes for every 1 vote of the Class A
Common Stock.

Series
A Convertible Preferred Stock

On
October 11, 2023, 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. 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 (