Overview
- Seraphim Space Investment Trust launched a C-share offer on Monday to raise up to £350 million, with the sale run for retail investors by Retailbook.
- The trust’s share price fell about 10% to 12% after the announcement as investors anticipated more stock entering the market.
- C shares are a separate class that later convert into ordinary shares, which helps spread the impact of new capital on existing holders.
- Management says the money will back companies nearing exits, including a planned HawkEye 360 IPO and ICEYE at about €2.4 billion, and will fund the next accelerator cohort.
- The trust reported 278% one-year and 411% three-year share-price total returns as of April 10, supported by lower launch costs and rising demand from defense, climate, telecoms and AI.