Seraphim Space Investment Trust (LSE:SSIT) has raised approximately £137 million through the issuance of 136.5 million C Shares priced at 100 pence each, representing the largest fundraising completed by a UK investment company since 2023.
The capital raise was conducted through a combination of a placing, a direct institutional subscription and a retail offer, attracting strong support from both existing shareholders and new institutional and retail investors.
New Capital to Support Expansion of SpaceTech Investment Portfolio
The proceeds from the fundraising will be allocated toward a pipeline of pre-identified early-stage and growth-stage SpaceTech investments, further strengthening Seraphim’s position as a specialist investor in the global space technology sector.
The newly issued C Shares are set to trade on the London Stock Exchange and will carry full voting rights before periodically converting into ordinary shares. Following the transaction, the company’s total voting rights will increase to approximately 373.7 million shares, expanding its capital base to support future growth opportunities within the rapidly developing space economy.
Strong Balance Sheet Offset by Earnings and Valuation Concerns
Seraphim Space’s outlook continues to benefit from a strong debt-free balance sheet and supportive technical indicators, including positive momentum and a sustained upward trend in the shares.
However, the company’s outlook remains constrained by weaker cash flow quality and highly volatile earnings driven largely by portfolio valuation movements. Valuation metrics are also viewed as less supportive given the reported price-to-earnings ratio and the absence of dividend yield data.
More about Seraphim Space Investment Trust Plc
Seraphim Space Investment Trust Plc is the world’s first listed investment fund dedicated exclusively to SpaceTech. The company primarily invests in early-stage and growth-stage private space technology businesses with potential for global market leadership and first-mover advantages across sectors including climate, communications, mobility and cyber security. Its shares are listed on the London Stock Exchange Main Market.
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