IN BRIEF: Seraphim Space portfolio firm terminates merger with Breeze

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Seraphim Space Investment Trust PLC - London-based investor in space technology - Says its portfolio company D-Orbit SpA mutually agrees to terminate merger deal with special purpose acquisition company Breeze Holdings Acquisition Corp, effective immediately. Says both companies have agreed that financial markets have changed since the proposed transaction was agreed upon, hence terminating the merger was believed to be in the best interests of both parties.

Chief Investment Officer James Bruegger says: ‘Since this agreement was first announced in January, financial markets have changed substantially, and it is clear that the merger agreement is no longer viable for either of the parties.’

D-Orbit specialises in space logistics and orbital transportation services.

‘Nevertheless, this does not change our outlook for D-Orbit, and we remain confident about the future of the company,’ Bruegger adds.

Current stock price: 59.91 pence, down 3.1%

12-month change: down 47%

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