C Share Portfolio Investment in Skylo

Summary by AI BETAClose X

Seraphim Space Investment Trust PLC has invested an additional $23.1 million (£17.5 million) into its existing portfolio company, Skylo Technologies Inc., utilizing proceeds from its £137 million C Share issue. This further investment underscores the company's conviction in Skylo's potential within the rapidly evolving non-terrestrial network connectivity sector, which is becoming integral to the broader communications ecosystem. Skylo's role as a connectivity partner to major mobile network operators and device manufacturers, enabling seamless terrestrial and satellite integration, positions it well for growth as direct-to-device connectivity expands.

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