Seraphim Space Investment Trust (SSIT) reported a gain after tax of GBP 56.4 million for H1 FY2025/26 (six months ended 31 December 2025), equal to 23.78p per share, comprising a revenue loss after tax of GBP 2.1 million ((0.89)p per share) and a capital gain after tax of GBP 58.5 million (24.67p per share). Net asset value $(NAV)$ rose to GBP 337.5 million as at 31 December 2025 (+20.1% vs. 30 June 2025), with NAV per share at 142.30p (+20.1%). Portfolio valuation increased to GBP 331.6 million (+27.6%), while liquid resources were GBP 22.1 million (+2.5%). SSIT’s share price ended the period at 120.0p (+40.2%), implying a -15.7% discount to NAV (from -27.8%). Ongoing charges were 1.79%. The NAV included a performance fee provision of GBP 16.6 million, with the report noting no performance fee accrual or obligation is due at this stage and payout remains subject to conditions. During H1, SSIT invested GBP 2.9 million in follow-ons (including GBP 2.6 million in ALL.SPACE and GBP 0.3 million in QuadSAT) and received GBP 6.2 million of disposal proceeds after fully exiting Arqit (GBP 3.3 million proceeds) and Spire Global (GBP 2.9 million proceeds). Key portfolio highlights included major funding rounds at ICEYE (EUR 150 million Series E), HawkEye 360 (USD 150 million Series E) and D-Orbit (EUR 110 million first close of Series D, including EUR 45 million fresh capital), and ICEYE’s joint venture with Rheinmetall being awarded a EUR 1.7 billion contract to provide the German Armed Forces with space-based reconnaissance data. SSIT also cited a HawkEye 360 multi-year data access agreement worth USD 100 million+ and Skylo’s satellite-based voice gateway enabling NTN voice calling. After period end, SSIT noted additional developments including Tomorrow.io announcing USD 175 million in new equity financing and SatVu announcing a GBP 30 million final close funding round.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Seraphim Space Investment Trust plc published the original content used to generate this news brief on March 05, 2026, and is solely responsible for the information contained therein.
Comments