🔴 SIDU is trading 17.1% down today on dilution concerns from a new $100 million share offering

SIDU is trading 17.1% down at $5.04 in pre-market as investors react to a newly announced $100 million registered direct offering.

• The company announced the pricing of 19,685,039 shares of its Class A common stock at $5.08 per share. [3, 7, 12]
• Gross proceeds from the offering are expected to be approximately $100 million and will be used for working capital and general corporate purposes. [3, 12]
• The decline follows a sharp multi-day rally and reflects investor concerns about share dilution from this new, significant offering. [7]