Contemplating fundraising via an issue of C shares

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 record¹.

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)	[e-mail]
Clotilde Gros / George Esmond / Harry Handyside	[phone]
Deutsche Numis (Joint Corporate Broker)
Nathan Brown / Vicki Paine	[phone]
J.P. Morgan Cazenove (Joint Corporate Broker)
William Simmonds / Rupert Budge	[phone]
Ocorian Administration (UK) Limited	[e-mail]
Lorna Zimny	[phone]

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.

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.

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.

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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