Sidus Space Announces 180-Day Extension to Regain Compliance with NASDAQ Minimum Bid Price Requirement
13 Septembre 2023 - 3:15PM
Business Wire
Sidus Space (NASDAQ: SIDU) (the “Company” or “Sidus”), a
multi-faceted Space and Data-as-a-Service company, today announces
that it has been granted an additional 180 calendar days, or until
March 11, 2024, (the "Second Compliance Period") to regain
compliance with The Nasdaq Stock Market LLC ("NASDAQ").
On September 12, 2023, Sidus received a notification letter (the
"Notification Letter") from the Listings Qualifications Department
of NASDAQ. The Notification Letter states that, while Sidus has not
regained compliance with the Minimum Bid Price Requirement, NASDAQ
has determined that the Company is eligible for a Second Compliance
Period.
If at any time during the Second Compliance Period, the closing
bid price of Sidus’s Class A common stock is at least $1 per share
for a minimum of 10 consecutive business days, NASDAQ will provide
Sidus with written confirmation of compliance. If compliance with
the Minimum Bid Price Requirement cannot be demonstrated by March
11, 2024, NASDAQ will provide written notification that the
Company's Class A common stock will be delisted. At that time, the
Company may appeal NASDAQ's determination to a Hearings Panel.
The Company intends to actively monitor the closing bid price of
its Class A common stock and may, if appropriate, consider
implementing available options to regain compliance with the
minimum bid price under the Nasdaq Listing Rules.
About Sidus Space
Sidus Space (NASDAQ: SIDU) is a Space and Data-as-a-Service
satellite company focused on mission-critical hardware
manufacturing; multi-disciplinary engineering services; satellite
design, production, launch planning, mission operations; and
in-orbit support. The Company is located in Cape Canaveral,
Florida, where it operates from a 35,000-square-foot manufacturing,
assembly, integration, and testing facility focused on vertically
integrated Space-as-a-Service solutions including end-to-end
satellite support.
Sidus Space has a mission of Bringing Space Down to Earth™ and a
vision of enabling space flight heritage status for new
technologies while delivering data and predictive analytics to
domestic and global customers. Any corporation, industry, or
vertical can start their journey off-planet with Sidus Space’s
rapidly scalable, low-cost satellite services, space-based
solutions, and testing alternatives. More than just a
“Satellite-as-a-Service” provider, Sidus Space is a trusted Mission
Partner–from concept to Low Earth Orbit and beyond. Sidus Space is
ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.
Forward-Looking Statements
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding
matters that are not historical facts, may constitute
‘forward-looking statements’ within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements include,
but are not limited to, statements relating to the expected trading
commencement and closing dates. The words ‘anticipate,’ ‘believe,’
‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’
‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’
‘would’ and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including: the
uncertainties related to market conditions and other factors
described more fully in the section entitled ‘Risk Factors’ in
Sidus Space’s Annual Report on Form 10-K for the year ended
December 31, 2022, and other periodic reports filed with the
Securities and Exchange Commission. Any forward-looking statements
contained in this press release speak only as of the date hereof,
and Sidus Space, Inc. specifically disclaims any obligation to
update any forward-looking statement, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230913148361/en/
Investor Relations Valter Pinto or Jack Perkins KCSA
Strategic Communications sidus@kcsa.com (212) 896-1254
Media Pam Davis Sidus Space mediateam@sidusspace.com
Sidus Space (NASDAQ:SIDU)
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