IN BRIEF: York completes purchase of Seraphim Space investee All.Space

Seraphim Space Investment Trust PLC - London-based investor in 'SpaceTech' companies, such as space-based mobile phone connectivity - Stands to receive up to USD54.4 million, about £40.7 million, in cash and shares from the acquisition of portfolio holding All.Space Ltd by York Space Systems Inc. Seraphim Space notes that this is above the £31.3 million that it invested into All.Space back in 2021 but below the £57.4 million fair value value assigned to the holding in Seraphim Space's accounts as of March 31. The investment trust says this is due to the a decline in York's share price to USD22.92 in New York at the close of the deal from USD34 when it was agreed in April. Were York's price to recover to USD34 by the time lock-up agreements for the deal expire, total consideration for Seraphim Space will be USD68.1 million, or £50.9 million. All.Space develops satellite communications terminals, while York is a US defence contractor.

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