Seraphim Space I.T. - Results of Equity Raise
08/05/2026 07:00
RNS Number : 5149D
Seraphim Space Investment Trust PLC
08 May 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 (OTHER THAN LUXEMBOURG AND THE REPUBLIC OF IRELAND) 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.
8 May 2026
Seraphim Space Investment Trust plc
LEI: 2138002THGUZBGZC2V85
Results of equity raise
Seraphim Space Investment Trust plc ("SSIT" or the "Company"), the world's first listed SpaceTech investment company, is pleased to announce the completion of an equity raise via an issue of C Shares, announced on 27 April 2026 and conducted under the authorities granted by shareholders at the Company's General Meeting on 6 May 2026 (the "Issue").
Pursuant to the Issue, a total of 136,508,663 new C Shares will be issued at a price of 100 pence per C Share, raising gross proceeds of approximately £137 million. The Issue comprises:
· gross proceeds of £76.4 million by way of the Placing;
· gross proceeds of £15.1 million by way of a direct subscription by an institutional investor; and
· gross proceeds of £45.0 million by way of the Retail Offer.
The Board and the Investment Manager are delighted by the response of institutional and retail investors, including existing SSIT shareholders, to the Issue. Consistent with its existing investment strategy, the Company will now start to deploy the proceeds into a number of advanced investment opportunities that have already been identified.
The C Shares will, when issued, be credited as fully paid and convert into Ordinary Shares at periodic intervals based on quarterly NAVs.
Applications will be made for the admission of 136,508,663 C Shares to the closed-ended investment funds category of the Official List maintained by the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities (together, "Admission"). It is expected that Admission will take place on Tuesday, 12 May 2026 and that dealings in the C Shares on the London Stock Exchange's main market for listed securities will commence at the same time.
On Admission, the Company's issued share capital will consist of 237,198,584 Ordinary Shares (excluding shares held in treasury) and 136,508,663 C Shares. The C Shares carry the right to receive notice of, attend and vote at general meetings of the Company. The Company will hold 2,186,344 shares in treasury at the time of Admission. Therefore, the total number of voting rights of the Company will be 373,707,247 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
The Issue is conditional, among other things, on Admission becoming effective and the Placing Agreement entered into in connection with the Placing not being terminated in accordance with its terms. The C Shares have been placed by J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove) ("JPMC") and Deutsche Bank AG (trading for these purposes as Deutsche Numis) ("Deutsche Numis").
Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company on 27 April 2026 to announce the launch of the Issue.
Commenting on the Placing, Will Whitehorn, Chair of SSIT said: "We are delighted by the breadth and depth of investor support for this C Share issue, the largest fundraise by an investment company since 2023, with strong participation from both existing shareholders and new investors across the spectrum of endowment funds, institutions, family offices and wealth managers, alongside robust demand from retail investors. This fundraise strengthens Seraphim as the global leader in SpaceTech investment."
Mark Boggett, Chief Executive Officer of Seraphim Space and Investment Manager to Seraphim Space Investment Trust, said: "The success of this C Share issue reflects growing confidence in the space sector, which continues to accelerate, as evidenced by a portfolio trade sale and IPO both announced in the last week. We look forward to deploying the proceeds of the Issue at pace into a portfolio of pre-identified existing and new investment opportunities, each private company selected for its leadership position within its respective sub‑category across the increasingly broad and strategically important space domain."
Enquiries
| SSIT Chairman (via SEC Newgate) | +44 (0) 20 3757 6767 |
| Seraphim Space Manager LLP (via SEC Newgate)Mark Boggett, CEO / James Bruegger, CIO / Rob Desborough, GP | +44 (0) 20 3757 6767 |
| SEC Newgate (Communications advisers)Clotilde Gros / George Esmond / Harry Handyside | seraphim@secnewgate.co.uk +44 (0) 20 3757 6767 |
| Deutsche Numis (Joint Bookrunner)Nathan Brown / Vicki Paine / Jonny Abbott | +44 (0) 20 7545 8000 |
| J.P. Morgan Cazenove (Joint Bookrunner)William Simmonds / Rupert Budge | +44 (0) 20 3493 8000 |
| Ocorian Administration (UK) Limited Lorna Zimny | seraphimteam@ocorian.com +44 (0) 28 9078 5880 |