SERAPHIM SPACE INVESTMENT TRUST (SSIT) – Investment Trusts
| Price: 99p +4% | NAV: 119.6p |
| Market Cap: £225m | Yield: n/a |
Major news from the world’s first listed SpaceTech investment company in the form of a €1.7 billion deal between ICEYE, the trust’s largest holding, and German defence giant RHEINMETALL (RHM).
The contract will see ICEYE support RHM in providing Germany’s armed forces with high-tech satellites from the end of this year through to 2030 with options for extension.
Our View
In its recent financing round, ICEYE was valued at €2.4 billion meaning SSIT’s stake represents over a third of the trust’s net asset value.
After today’s news, investors can expect that valuation to rise, and with it the value of SSIT’s stock, which has already enjoyed a 70% run year-to-date.
Read the press release here: https://investors.seraphim.vc/
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