Seraphim Space Investment Trust PLC - London-based investor in space technology - Completes acquisition of stake in Arqit Quantum Inc from the Seraphim Space LP.
"As set out in the IPO prospectus, Seraphim Space will acquire four assets from the Seraphim Space Fund for newly issued ordinary shares in the company. This acquisition represents the second of those transactions to complete," company explains.
Seraphim Space IT buys 2.4 million shares in Arqit, valued at GBP27.3 million, which Seraphim Space Fund has used to subscribe for 26.3 million shares in Seraphim Space IT at 100 pence each.
On September 7, Arqit completed its proposed merger with Centricus Acquisition Corp. The combined company has been renamed Arqit Quantum.
Seraphim Space Chair Will Whitehorn says: "Arqit is yet another example of how Seraphim Space is backing industry leaders that are tackling some of the world's most pressing issues. As a cybersecurity company specialising in next-generation encryption services, Arqit plays a crucial role in protecting against threats to the entire digital world, including financial services, automation and even security."
Current stock price: 126.00 pence
Year-to-date change: up 24% since July IPO
By Paul McGowan; paulmcgowan@alliancenews.com
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