12 July 2021 Industry News

Seraphim offers public opportunity to invest in space tech

Space investment leaders - Mark Boggett (left) and Will Whitehorn (right)
Space investment leaders - Mark Boggett (left) and Will Whitehorn (right)

Space is now "open for business" and is no longer just the preserve for billionaires, according to Mark Boggett, CEO of Seraphim Space.

His comments came as Seraphim Space Investment Trust plc, a newly established closed-ended investment company which will invest in a diversified international portfolio of early and growth stage space tech businesses, revealed it had raised gross proceeds of approximately £178.4 million in an initial issue of ordinary shares.

It means the UK firm - the world's first dedicated space technology investor - will list fund shares on the London Stock Exchange and so give the general public the opportunity to invest in a portfolio of new private space firms.

"Seraphim Space Investment Trust is aiming to back the next generation of space entrepreneurs who are looking to harness the infinite potential of space to help solve some of our world's most pressing problems," said Mark

"With the space sector now at a major inflection point, 'space tech' looks set to become a multi decade, multi trillion investment opportunity - one which Seraphim is already at the forefront of.

"Seraphim Space Investment Trust is offering for the first time public market investors the opportunity to get diversified exposure to the private companies leading this exciting investment area. We are delighted that investors in our IPO share our enthusiasm for helping to make science fiction become science fact,” he added.

In a statement issued today (12 July 2021) Seraphim Space Investment Trust said its Capital Raise, announced in a prospectus published by the company on 22 June 2021, was oversubscribed with demand exceeding the target fundraise amount of £150 million. As a result applications were scaled back so that commitments under the Capital Raise equalled the £150 million target amount.

The company stated at the end of 2020 that it will also acquire stakes in four Space Tech businesses (the "Retained Assets") upon the completion or termination of currently pending corporate activity in relation to those assets.

Will Whitehorn, Chair of Seraphim Space Investment Trust plc, commented: "Seraphim is the world's number one investor in Space Tech, a sector that to date has been driven by private capital.

“Our IPO on the main market of the London Stock Exchange gives investors unparalleled early access to companies that will shape a new economic revolution. We are delighted with the support received from retail and institutional investors alike. We look forward to playing our part, as an ambitious investor, in the space industrial revolution which is now underway around the globe and above it.”

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