REG - Seraphim Space I.T. - Contemplating fundraising via an issue of C shares

Seraphim Space Investment TrustAnnouncement

Mon 07:00

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RNS Number : 1507A  Seraphim Space Investment Trust PLC  13 April 2026

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE,
PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN
OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE
REPUBLIC OF SOUTH AFRICA, IN ANY MEMBER STATE OF THE EEA OR IN ANY OTHER
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

This Announcement is not an offer to sell, or a solicitation of an offer to
acquire, securities in any jurisdiction in which the same would be unlawful.

This Announcement contains information that is inside information for the
purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014 which
is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as
amended. The person responsible for arranging for the release of this
announcement on behalf of Seraphim Space Investment Trust plc is Birgitte
Horn, Ocorian Administration (UK) Limited (Company Secretary). Upon the
publication of this announcement, this information is considered to be in the
public domain.

13 April 2026

Seraphim Space Investment Trust plc

Contemplating fundraising via an issue of C shares

The Board of Seraphim Space Investment Trust plc (LSE:SSIT) ("SSIT" or the
"Company"), the world's first listed SpaceTech investment company, in light of
the Company's strong performance and pipeline of attractive investment
opportunities, is pleased to announce that it is contemplating a fundraising
via an issue of C shares, available to both institutional and retail
investors.

The Board believes that SSIT is exceptionally well-positioned as it approaches
the end of its fifth year as a public listed company, with the SpaceTech
sector continuing to present highly attractive investment opportunities
strongly aligned with significant global tailwinds.

·      SpaceTech is the backbone of the next wave of global megatrends,
offering a compelling investment opportunity

o  The SpaceTech market is now at a critical inflection point. Recent
developments have caused a significant cost reduction in access to Space, with
lower satellite and launch costs - there are few parts of the global economy
that will be unaffected by Space.

o  SpaceTech's accelerating growth is being driven by global security
concerns, desire for climate sustainability and the search for the next
generation of infrastructure for telecoms and AI.

o  It is expected that SSIT will benefit from the continued multi-decade
growth in demand for Space-related technologies.

·      Seraphim Space Manager LLP ("Seraphim Space"), the manager of
SSIT, is the world's #1 SpaceTech investor with access to extensive global
deal flow and a proven track record of delivering value

o  Seraphim Space's privileged position in the global SpaceTech ecosystem
gives unparalleled early access to companies that may shape a new economic
revolution.

o  Seraphim Space has a top decile realised track record(1).

o  Seraphim Space has invested in 45 SpaceTech companies on behalf of its
fund clients, the outcome of which include 9 unicorns, 5 IPOs and 1 trade
sale. In addition, it has supported more than 100 SpaceTech companies through
its accelerator programme.

o  SSIT has delivered share price total returns of 278%, 411% and 88%,
respectively, over the past one year, three years and since inception to 10
April 2026.

·      Strong momentum in the existing SSIT portfolio

o  SSIT's high growth portfolio, consisting of 24 holdings including
maturing, well-capitalised companies, is strongly aligned with sector
tailwinds.

o  SSIT's top 10 holdings have an average annual revenue growth rate of
79%(2) and 85%(3) of the portfolio is expected to be profitable in 2026.

o  SSIT's private company portfolio has delivered a return of 19% per annum
(4).

o  100% of SSIT's portfolio has dual-use applications, with over 70% of the
portfolio predominantly focused on defence.

The timing and quantum of any fundraise will be subject to market conditions.
Any issue of C shares will also be conditional on receiving the necessary
shareholder approvals. If an issue of C shares proceeds, deployment of the C
share issue proceeds is expected to continue the strategy successfully
executed since IPO. The C shares would form a separate share class to the
Company's existing ordinary shares during their deployment phase, which would
reduce cash drag for existing shareholders. The C shares would convert into
ordinary shares once the proceeds, or part of the proceeds, have been
deployed. The basis on which the C shares would convert into ordinary shares
is such that the NAV per ordinary share would not be diluted.

It is expected that a circular and notice of general meeting seeking the
relevant authorities from shareholders to issue a C share will be published in
the near future.

(1) 2016 vintage first fund; (2) Fair value weighted average annual revenue
growth in 2025; (3) By fair value, based on latest projections from management
teams; (4) All private company investments made including those which have
subsequently become listed.

Enquiries

 Seraphim Space Manager LLP (via SEC Newgate)
 Mark Boggett, CEO / James Bruegger, CIO / Rob Desborough, GP
 SEC Newgate (Communications advisers)                           seraphim@secnewgate.co.uk (mailto:seraphim@secnewgate.co.uk)
 Clotilde Gros / George Esmond / Harry Handyside                 +44 (0) 20 3757 6767
 Deutsche Numis (Joint Corporate Broker)
 Nathan Brown / Vicki Paine                                      +44 (0) 20 7545 8000
 J.P. Morgan Cazenove (Joint Corporate Broker)
 William Simmonds / Rupert Budge                                 +44 (0) 20 3493 8000
 Ocorian Administration (UK) Limited                             seraphimteam@ocorian.com (mailto:seraphimteam@ocorian.com)
 Lorna Zimny                                                     +44 (0) 28 9078 5880

 

Notes to Editors

About Seraphim Space Investment Trust plc

Seraphim Space Investment Trust plc (the "Company") is the world's first
listed fund focused on SpaceTech. The Company seeks exposure predominantly to
early and growth stage private financed SpaceTech businesses that have the
potential to dominate globally and that are sector leaders with first mover
advantages in areas such as climate, communications, mobility and cyber
security.

The Company is listed on the Main Market of the London Stock Exchange.

Further information is available at: https://investors.seraphim.vc
(https://investors.seraphim.vc/) .

About Seraphim Space Manager LLP

Seraphim Space Manager LLP ("Seraphim Space" or the "Manager") is based in
the UK and manages Seraphim Space Investment Trust plc and Seraphim Space
Ventures II LP.

Further information is available at www.seraphim.vc (http://www.seraphim.vc/)
.

About Seraphim Space Accelerator Ltd

Seraphim Space Accelerator Ltd, an affiliate of Seraphim Space Manager
LLP based in the UK, established the Seraphim Space Accelerator in 2018 and
has developed it to become the world-leading VC-led accelerator with a focus
on SpaceTech. The accelerator programme brings in-depth industry expertise to
get Seed and Pre-Series A SpaceTech companies 'investment ready' while
facilitating relationships with some of the world's leading Space corporates
and agencies.

Further information is available at www.seraphim.vc (http://www.seraphim.vc/)
.

About Generation Space LLC

Generation Space LLC is the US subsidiary of Seraphim Space Manager LLP and
is responsible for its US activities. Generation Space LLC is an affiliate
of Seraphim Space Camp Accelerator Ltd and is responsible for delivery of
the US Generation Space Accelerator.

IMPORTANT INFORMATION

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR
CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY
PERSON TO PURCHASE AND/OR SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY
SECURITIES IN SERAPHIM SPACE INVESTMENT TRUST PLC OR ANY OTHER ENTITY IN ANY
JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION,
SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT
DECISION IN RESPECT OF SERAPHIM SPACE INVESTMENT TRUST PLC OR ANY OTHER
ENTITY.

This Announcement is restricted and is not for publication, release,
transmission, distribution or forwarding, in whole or in part, directly or
indirectly, in or into Australia, Canada, Japan, New Zealand, the Republic of
South Africa, in any member state of the EEA or in any other jurisdiction in
which publication, release or distribution would be unlawful  (or to any
persons in any of those jurisdictions).

This Announcement is not for publication or distribution in or into the United
States of America.  This announcement is not an offer of securities for sale
into the United States or to U.S. persons.  The C shares may not be offered
or sold in the United States or to U.S. persons absent registration  under
the U.S. Securities Act of 1933, as amended (the "Securities Act"), or an
exemption from registration under the Securities Act.  The Company has not
registered and does not intend to register any part of any offering in the
United States or to conduct apublic offering of any securities  in the United
States.

This Announcement contains "forward-looking statements" with respect to
certain of the Company's plans and its current goals and expectations relating
to its future financial condition, performance, strategic initiatives,
objectives and results. Forward-looking statements sometimes use words such as
"aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal",
"believe", "seek", "may", "could", "would", "likely", "outlook" or other words
of similar meaning. By their nature, all forward-looking statements involve
risk and uncertainty because they relate to future events and circumstances
which are beyond the control of the Company. There are a number of factors
that could cause actual results or developments to differ materially from
those expressed or implied by these forward-looking statements and forecasts.
As a result, the actual future financial condition, performance and results of
the Company may differ materially from the plans, goals and expectations set
forth in any forward-looking statements. No representation or warranty is made
as to the achievement or reasonableness of, and no reliance should be placed
on, such forward-looking statements. Any forward-looking statements made in
this Announcement by or on behalf of the Company speak only as of the date
they are made. These forward-looking statements reflect the Company's judgment
at the date of this Announcement and are not intended to give any assurance as
to future results and the Company cautions that its actual results of
operations and financial condition, and the development of the industry in
which it operates, may differ materially from those made in or suggested by
the forward-looking statements contained in this Announcement.

The information contained in this Announcement is subject to change without
notice and except as required by applicable law or regulation, the Company
expressly disclaims any obligation or undertaking to publish any updates,
supplements or revisions to any forward-looking statements contained in this
Announcement to reflect any changes in the Company's expectations with regard
thereto or any changes in events, conditions or circumstances on which any
such statements are based, except where required to do so under applicable law
or regulation or by the FCA or the London Stock Exchange.

Deutsche Bank AG is a joint stock corporation incorporated with limited
liability in the Federal Republic of Germany, with its head office in
Frankfurt am Main where it is registered in the Commercial Register of the
District Court under number HRB 30 000. Deutsche Bank AG is authorised under
German banking law. The London branch of Deutsche Bank AG (trading for these
purposes as Deutsche Numis) ("Deutsche Numis") is registered in the register
of the companies for England and Wales (registration number BR000005) with its
registered address and principal place of business at 21 Moorfields, London,
EC2Y 9DB, United Kingdom. Deutsche Bank AG is authorised and regulated by the
European Central Bank and the German Federal Financial Supervisory Authority
(BaFin). With respect to activities undertaken in the UK, Deutsche Numis is
authorised by the Prudential Regulation Authority. It is subject to regulation
by the Financial Conduct Authority and limited regulation by the Prudential
Regulation Authority.

J.P. Morgan Securities plc (which conducts its UK investment banking
activities as J.P. Morgan Cazenove) ("JPMC"), is authorised by the PRA and
regulated in the United Kingdom by the PRA and the FCA.

Each of Deutsche Bank and JPMC is acting for the Company and no other person
in connection with the matters described in this Announcement.  Deutsche Bank
and JPMC will not be responsible to any person other than the Company for
providing any of the protections afforded to clients of Deutsche Bank or JPMC,
nor for providing any advice in relation to any matter referred to in this
Announcement.

 

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