Venta de empresas de cartera en etapa inicial
SERAPHIM SPACE INVESTMENT TRUST PLC
(la "Compañía" o "SSIT")
Seraphim Space Investment Trust plc (LSE: SSIT, the "Company"), the world's first listed SpaceTech investment company, announces the sale of 100% of its interest in nine early stage portfolio companies (the "Early Stage Portfolio") to Seraphim Space Ventures II LP (the "Venture Fund"), a new private venture capital vehicle managed by Seraphim Space Manager LLP (the "Manager") for a total consideration of £3.8 million to be settled through the issuance of an interest for SSIT in the Venture Fund (the "Transaction"). The Venture Fund will invest during its ten-year life in seed and series A stage SpaceTech companies globally.
The Early Stage Portfolio comprises all early stage investments made by SSIT since its IPO in July 2021 and has been valued in aggregate at £3.8 million by an independent valuation agent, Azets. The valuation is as at 31 December 2023, adjusted for accrued loan note interest (where relevant) for the three months ended 31 March 2024 and the valuation of a recent transaction in one company. The assets were acquired by SSIT for a total cost of £3.5 million. The Early Stage Portfolio represented 1.7% of NAV as at 31 December 2023, and there is no change to NAV as a result of the Transaction. This one-off transaction represents 100% of SSIT's commitment to the Venture Fund and SSIT will not make any further commitments to it. SSIT will not incur any management fees or be subject to carried interest as a limited partner in the Venture Fund.
The Venture Fund's focus on investing in early stage SpaceTech businesses is expected to complement the Company's investment strategy which remains focused on growth stage opportunities. Through the Transaction, the Company will get continued exposure to the Early Stage Portfolio as well as a broader pool of early stage companies that the Venture Fund is expecting to invest into, thereby providing the Company with a ready-made pipeline of future growth round investment opportunities.
Please see the Manager's announcement here https://seraphim.vc/news/seraphim-press-release/ for further information about the Venture Fund.
Will Whitehorn, Chair of Seraphim Space Investment Trust plc, commented:
"The strategic decision to divest the Early Stage Portfolio has the dual benefit of enabling SSIT to concentrate its resources on its more mature assets, whilst also building a larger pipeline for future growth round investments via the Venture Fund's wider portfolio of early stage SpaceTech companies. Hence we consider this transaction to be a win-win for SSIT's shareholders."
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Preguntas de los medios
Seraphim Space Manager LLP (a través de SEC Newgate) |
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Mark Boggett, director ejecutivo / James Bruegger, CIO / Rob Desborough |
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SEC Newgate (asesores de comunicaciones) | |
Clotilde Gros / Bob Huxford | +44 0 20 3757 6767 |
Deutsche Numis |
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Mark Hankinson / David Benda / Gavin Deane / Neil Coleman | +44 0 20 7545 8000 |
JP Morgan Cazenove |
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William Simmonds / Jérémie Birnbaum / Rupert Budge | +44 0 20 7742 4000 |
Administración de Ocorian (Reino Unido) Limited | |
Lorna Zimny | +44 0 28 9078 5880 |
Notas a los editores
Acerca de Seraphim Space Investment Trust plc
Seraphim Space Investment Trust plc (la "Compañía") es el primer fondo cotizado del mundo centrado en SpaceTech. La Compañía busca exposición predominantemente a empresas SpaceTech financiadas por privados en etapas iniciales y de crecimiento que tienen el potencial de dominar a nivel mundial y que son líderes del sector con ventajas de ser pioneros en áreas como el clima, las comunicaciones, la movilidad y la seguridad cibernética.
La Compañía cotiza en el Segmento Premium de la Bolsa de Valores de Londres.
Más información disponible en: https://investors.seraphim.vc.
Acerca de 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.
Más información en: www.serafines.vc.
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