Seraphim Space Investment Trust PLC (LSE:SSIT), which describes itself as the world's first listed SpaceTech investment company, has completed an equity raise of approximately £137 million through an issue of C Shares.
The raise comprised £76.4 million from a placing, £45 million from a retail offer, and £15.1 million via a direct subscription by an institutional investor.
A total of 136,508,663 new C Shares were issued at 100 pence per share, with admission to the London Stock Exchange's main market expected on 12 May 2026.
The C Shares will convert into ordinary shares at periodic intervals based on quarterly net asset values (NAVs), a measure of the value of the company's underlying investments.
J.P. Morgan Cazenove and Deutsche Numis acted as placers for the issue.
Will Whitehorn, chair of SSIT, described the raise as the largest by an investment company since 2023, citing participation from endowment funds, institutions, family offices, wealth managers and retail investors.
Mark Boggett, chief executive of Seraphim Space and investment manager to the trust, said the result reflected growing confidence in the space sector, pointing to a portfolio trade sale and an initial public offering (IPO) both announced in the past week as evidence of accelerating activity.
The company said it would begin deploying the proceeds into a number of pre-identified investment opportunities.
On admission, SSIT's issued share capital will consist of 237,198,584 ordinary shares and 136,508,663 C Shares, giving a total of 373,707,247 voting rights.