ispace ¥7.0bn equity programme with Heights Capital (CVI Investments)
ispace sold shares and warrants in four tranches to Heights Capital, the Susquehanna affiliate, to fund development of its next landers.
- Company
- ispace
- Type
- Equity raise
- Status
- Completed
- Date
- 26 Mar 2025
- Value
- JPY 6.99bn
- US$ equivalent
- US$47m
- Value basis
- ¥6.99bn from four allotments of 2,750,000 new shares each (at ¥602, ¥547, ¥802 and ¥589), plus 110,000 warrants that could raise more if exercised by March 2029
- Region
- Japan
- Segment
- Listed equity
Parties
- ispace issuer
- CVI Investments (Heights Capital Management) investor
Key terms
- Structure
- Shares and stock acquisition rights issuance programme agreement, 11 Oct 2024; shelf registration
- Share price
- 90% of the prior day's close at each of four announcements
- Warrants
- 110,000 rights (11m shares) at 120% of the prior close, exercisable to March 2029
- Payment dates
- 28 Oct 2024, 3 Dec 2024, 29 Jan 2025, 26 Mar 2025
Sources
- ispace: issuance of common stock and stock acquisition rights by third-party allotment (presentation) d2xlcgjnpyakn4.cloudfront.net · 11 Oct 2024
- ispace TDnet notice: completion of payment, second third-party allotment d2xlcgjnpyakn4.cloudfront.net · 3 Dec 2024
- ispace TDnet notice: completion of payment, third third-party allotment d2xlcgjnpyakn4.cloudfront.net · 29 Jan 2025
- ispace TDnet notice: completion of payment, fourth third-party allotment d2xlcgjnpyakn4.cloudfront.net · 26 Mar 2025
Record ORB-INV-2025-0027. Investments are kept apart from the financings register and never counted in debt totals.
