Seraphim Space Investment Trust (SSIC) C Shares | Retail Offer
Applications Open
100 pence per share
Closes: 10am Wednesday 06 May
Important information - We do not offer advice on the suitability of any Retail Offers for you. Like any investment, there are risks and it is vital that you have all the information you need to make an informed decision. If you have any doubts about its suitability, seek financial advice. The value of investments can fall as well as rise, so you may get back less than you invest. Dividends are not guaranteed and, if paid, are variable. Any decision to invest into a Retail Offer should be done solely on the basis of the information provided in the Company Announcement and any other supplementary documentation.
About Seraphim Space Investment Trust
Seraphim Space Investment Trust is a London-listed investment trust launched in 2021 that provides investors with exposure to the global space technology sector.
The trust invests primarily in private, early and growth stage SpaceTech companies that develop technologies such as satellite communications, space infrastructure, and defence-related space systems.
Its strategy is to achieve long-term capital growth by backing innovative companies building the digital infrastructure of space, giving investors access to a portfolio of space startups that would normally only be available through venture capital funds.
Use of Proceeds
The net proceeds of the Issue will be deployed in line with the Company’s existing investment policy to enhance and expand Seraphim Space Investment Trust's portfolio by investing in a strong pipeline of opportunities. This includes follow-on investments in existing holdings, backing companies emerging from its accelerator and venture programmes, and selectively targeting new growth opportunities.
Expected Timetable
Applications may close early and without prior warning.
Applications Close: 10am Wednesday 06 May
Allocation Confirmed: Friday 08 May
Admission: Tuesday 12 May
Shares credited to accounts: Wednesday 13 May
Offer Details
Offer price: 100 pence
Fundraising method: Placing and Retail Offer
Minimum investment: £250
Applications close: 10am Wednesday 06 May
Applications are open to both new and existing shareholders
Once applications have closed, you will not be able to amend or cancel your order
It’s free to apply for shares. Find out more about our charges.
Ready to apply?
Make sure you've read these key documents.
FAQ - C Shares
C shares are a special type of share that a UK investment trust may issue when it raises new money, usually during a large fundraise, without diluting existing shareholders.
When an investment trust raises capital, the new money cannot always be invested immediately. If new investors bought the existing ordinary shares straight away, they could benefit from assets already in the portfolio, which would dilute existing shareholders.
C shares solve this by separating the new money from the existing portfolio.
New investors buy C shares in the fundraising.
The cash raised is held in a separate pool of assets and invested gradually.
During this period, the net asset value (NAV) of C shares is calculated separately from the ordinary shares.
Once the money has been substantially invested, the C shares are converted into ordinary shares.
Yes - like ordinary shares, C shares can be bought and sold once they have been listed on a stock exchange.
What happens after you apply?
You can view or cancel your application in the ‘Pending Orders’ tab of your online account during the offer period.
You will receive confirmation of your allocation by secure message on Friday 08 May.
Shares are expected to be credited to your account on Wednesday 13 May.
Important Information
Investors should only invest if the trust’s objectives align with their own, and there’s a specific need for the type of investment being made. You should understand the specific risks and charges of a trust before investing, and make sure any new investment forms part of a diversified portfolio. Closed-ended funds can trade at a discount or premium to the net asset value (NAV).
The offer is only open to individuals who are physically located in the United Kingdom.
If the offer is oversubscribed, you may not receive the full amount that you have applied for.
Your application will be accepted on the basis of information in the Company Announcement, HL Retail Offer Terms & Conditions and HL Risk Warning. If you are unsure whether an investment is suitable for you please seek Financial Advice.
The Retail Offer is conditional on the requisite approvals being obtained from shareholders at the general meeting of the Company expected to be held on or around Wednesday 06 May.
HL will not receive a distribution fee from the Issuer and you will not be charged to participate in this offer.
Costs & Charges
The following charges are based on an investment of £5,000 within a Stocks and Shares ISA over 5 years assuming 5% annual growth rate.
| HL charges | £100.74 |
| Investment charges | £477.11 |
| Total charges | £577.85 |
| Average annual charge | 2.15% |
| Illustrative value | £5,730.84 |
| Illustrative value with no charges applied | £6,381.41 |
The costs and charges shown are for illustration purposes only based on the assumptions presented. Please refer to our tariff of charges before investing. Returns are not guaranteed.
Figures may not add up to the given total due to rounding.