iQPS ¥8.0bn warrant financing with SMBC Nikko (8th series)
SAR satellite maker iQPS raised ¥8bn through warrants placed with SMBC Nikko under a facility agreement, funding satellites 11 onward and a new R&D site.
- Company
- iQPS
- Type
- Equity raise
- Status
- Completed
- Date
- 25 Apr 2025
- Value
- JPY 8.02bn
- US$ equivalent
- US$53m
- Value basis
- ¥8.02bn raised from 92,800 exercise-price-reset warrants over 9.28m shares, all exercised by 25 Apr 2025 (planned ¥10.87bn at the ¥1,169 initial price)
- Region
- Japan
- Segment
- Listed equity
Parties
- iQPS issuer
- SMBC Nikko Securities investor
Key terms
- Warrants
- 92,800 rights over 9,280,000 shares, issued 30 Jan 2025 at ¥343 each
- Exercise price
- Reset to 92% of the prior day's VWAP; floor ¥702
- Facility agreement
- Company could suspend exercises
- Outcome
- All rights exercised by 25 Apr 2025; ¥8,023m raised
Sources
- iQPS TDnet notice: issuance of 8th series share acquisition rights to SMBC Nikko and facility agreement (Japanese) www2.jpx.co.jp · 14 Jan 2025
- iQPS TDnet notice: completion of exercise of 8th series share acquisition rights (Japanese) www2.jpx.co.jp · 25 Apr 2025
- iQPS: FY to May 2025 results (kessan tanshin, Japanese) www2.jpx.co.jp · 11 Jul 2025
Record ORB-INV-2025-0031. Investments are kept apart from the financings register and never counted in debt totals.
