Company Announcements

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 (OTHER THAN LUXEMBOURG AND THE REPUBLIC OF IRELAND) 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.

8 May 2026

Seraphim Space Investment Trust plc

LEI: 2138002THGUZBGZC2V85

Results of equity raise

Seraphim Space Investment Trust plc ("SSIT" or the "Company"), the world's first listed SpaceTech investment company, is pleased to announce the completion of an equity raise via an issue of C Shares, announced on 27 April 2026 and conducted under the authorities granted by shareholders at the Company's General Meeting on 6 May 2026 (the "Issue").

Pursuant to the Issue, a total of 136,508,663 new C Shares will be issued at a price of 100 pence per C Share, raising gross proceeds of approximately £137 million. The Issue comprises:

·      gross proceeds of £76.4 million by way of the Placing;

·      gross proceeds of £15.1 million by way of a direct subscription by an institutional investor; and

·      gross proceeds of £45.0 million by way of the Retail Offer.

The Board and the Investment Manager are delighted by the response of institutional and retail investors, including existing SSIT shareholders, to the Issue. Consistent with its existing investment strategy, the Company will now start to deploy the proceeds into a number of advanced investment opportunities that have already been identified.

The C Shares will, when issued, be credited as fully paid and convert into Ordinary Shares at periodic intervals based on quarterly NAVs.

Applications will be made for the admission of 136,508,663 C Shares to the closed-ended investment funds category of the Official List maintained by the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities (together, "Admission"). It is expected that Admission will take place on Tuesday, 12 May 2026 and that dealings in the C Shares on the London Stock Exchange's main market for listed securities will commence at the same time.

On Admission, the Company's issued share capital will consist of 237,198,584 Ordinary Shares (excluding shares held in treasury) and 136,508,663 C Shares. The C Shares carry the right to receive notice of, attend and vote at general meetings of the Company. The Company will hold 2,186,344 shares in treasury at the time of Admission. Therefore, the total number of voting rights of the Company will be 373,707,247 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Issue is conditional, among other things, on Admission becoming effective and the Placing Agreement entered into in connection with the Placing not being terminated in accordance with its terms. The C Shares have been placed by J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove) ("JPMC") and Deutsche Bank AG (trading for these purposes as Deutsche Numis) ("Deutsche Numis").

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company on 27 April 2026 to announce the launch of the Issue.

Commenting on the Placing, Will Whitehorn, Chair of SSIT said: "We are delighted by the breadth and depth of investor support for this C Share issue, the largest fundraise by an investment company since 2023, with strong participation from both existing shareholders and new investors across the spectrum of endowment funds, institutions, family offices and wealth managers, alongside robust demand from retail investors. This fundraise strengthens Seraphim as the global leader in SpaceTech investment."

Mark Boggett, Chief Executive Officer of Seraphim Space and Investment Manager to Seraphim Space Investment Trust, said: "The success of this C Share issue reflects growing confidence in the space sector, which continues to accelerate, as evidenced by a portfolio trade sale and IPO both announced in the last week. We look forward to deploying the proceeds of the Issue at pace into a portfolio of pre-identified existing and new investment opportunities, each private company selected for its leadership position within its respective sub‑category across the increasingly broad and strategically important space domain."

Enquiries

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 AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, ANY MEMBER STATE OF THE EEA (OTHER THAN ANY EEA MEMBER STATE WHERE THE SHARES ARE LAWFULLY MARKETED) AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL (THE "RESTRICTED JURISDICTIONS"). 

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR A SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR C SHARES IN ANY JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL INCLUDING, WITHOUT LIMITATION, ANY RESTRICTED JURISDICTION. 

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.  The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration.  No public offering of securities is being made in the United States.

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.

Deutsche Numis and JPMC are acting exclusively for the Company and for no-one else in connection with the Issue and the transactions and arrangements described in this Announcement and will not be responsible to any other person (whether or not a recipient of this Announcement) as a client in relation to the Issue or the transactions and arrangements described in this Announcement. Neither Deutsche Numis nor JPMC is responsible to anyone, other than the Company, for providing the protections afforded to its clients or for providing advice in connection with the contents of this Announcement, the Issue, the transactions and arrangements described herein.