LONDON (Seraphim Capital PR) — Seraphim Space Investment Trust plc, a newly established closed-ended investment company which will invest in a diversified international portfolio of early and growth stage Space Tech businesses, is pleased to announce that it has successfully raised gross proceeds of approximately £178.4 million [US $247 million] pursuant to the Initial Issue of its ordinary shares (“Ordinary Shares”) as described in the prospectus published by the Company on 22 June 2021.
Arqit Limited (“Arqit”), a leader in quantum encryption technology, has entered into a definitive agreement to combine with Centricus Acquisition Corp. (Nasdaq: CENH, CENHW, CENHU) (“Centricus”), a publicly-traded special purpose acquisition company.
Arqit has pioneered a unique quantum encryption technology, QuantumCloud™, which makes the communications links of any networked device secure against current and future forms of hacking – even an attack from a quantum computer.
The transaction with Centricus is expected to provide up to $400 million of gross proceeds to Arqit (assuming minimal redemption from existing Centricus shareholders). This includes funds from a fully committed PIPE of approximately $70 million with participation from Arqit business partners Virgin Orbit and Sumitomo Corporation, and Centricus sponsor Heritage Group.
Pro forma equity value of the business combination is approximately $1.4 billion, and pro forma enterprise value is approximately $1.0 billion at the PIPE price of $10.00 per share, assuming minimal redemption from existing Centricus shareholders.
This transaction will accelerate the next stages of Arqit’s business plan, including the mass commercialization of its products and the launch of two satellites, which is targeted for 2023.
Investor webcast and call is scheduled for May 12, 2021, at 9:00 AM EST / 2:00 PM BST.
NEW YORK and LONDON (Centricus/Arqit PR) — Arqit Limited (“Arqit”), a leader in quantum encryption technology and Centricus Acquisition Corp. (Nasdaq: CENH) (Nasdaq: CENHW) (Nasdaq: CENHU) (“Centricus”), a special purpose acquisition company, have entered into a definitive agreement that would result in Arqit becoming a publicly listed company (the “Business Combination Agreement”). Upon closing of the transaction, a newly formed Cayman holding company, Arqit Quantum Inc., will merge with Centricus, acquire Arqit and register its shares for listing on the Nasdaq Stock Market.