Editing Seraphim Space Investment Trust
The edit can be undone. Please check the comparison below to verify that this is what you want to do, and then publish the changes below to finish undoing the edit.
Latest revision | Your text | ||
Line 209: | Line 209: | ||
'''Exhibit 2: SSIT portfolio at December 2021'''<ref>Source: Seraphim Space Investment Trust.</ref> | '''Exhibit 2: SSIT portfolio at December 2021'''<ref>Source: Seraphim Space Investment Trust.</ref> | ||
Subsequent to the last NAV reported for end December 2021, there have been four investments in SSIT accounting for £6.5m, including a new investment of £0.2m into a US space situational awareness company (not as yet disclosed) and two follow-on investments. In March, SSIT completed a new £2.6m investment in Pixxel, which is an Indian-based developer of miniaturised hyperspectral satellite constellations and analytical tools capable of imaging the earth in optical bands invisible to the human eye. Its technology has applications in agricultural efficiency, environmental surveillance and pinpointing the location of natural resources. Meanwhile, some of the listed holdings have seen some quite significant declines in share price, reflecting the market direction as long duration growth assets have sold off. SSIT made additional investment into Spire Global, doubling down on its stake. More positively the company’s holding in D-Orbit is slated for listing, subject to a number of outstanding conditions via a special purpose acquisition company (SPAC; Breeze) in Q322 on Nasdaq with an implied enterprise value of c $1.28bn. D-Orbit shareholders will account for 84% of Breeze; SSIT currently owns 9.3% (fully diluted) of D-Orbit. A successful listing of this SPAC could be materially accretive to SSIT’s future NAV. | Subsequent to the last NAV reported for end December 2021, there have been four investments in SSIT accounting for £6.5m, including a new investment of £0.2m into a US space situational awareness company (not as yet disclosed) and two follow-on investments. In March, SSIT completed a new £2.6m investment in Pixxel, which is an Indian-based developer of miniaturised hyperspectral satellite constellations and analytical tools capable of imaging the earth in optical bands invisible to the human eye. Its technology has applications in agricultural efficiency, environmental surveillance and pinpointing the location of natural resources. Meanwhile, some of the listed holdings have seen some quite significant declines in share price, reflecting the market direction as long duration growth assets have sold off. SSIT made additional investment into Spire Global, doubling down on its stake. More positively the company’s holding in D-Orbit is slated for listing, subject to a number of outstanding conditions via a special purpose acquisition company (SPAC; Breeze) in Q322 on Nasdaq with an implied enterprise value of c $1.28bn. D-Orbit shareholders will account for 84% of Breeze; SSIT currently owns 9.3% (fully diluted) of D-Orbit. A successful listing of this SPAC could be materially accretive to SSIT’s future NAV. |