Seraphim Shares Fall 16% on Equity Raise

Shares of Seraphim Space Investment Trust (LSE:SSIT) fell more than 16% on Monday after announcing an equity raise.
The company plans a placing and retail offer of new C shares priced at 100 pence each, targeting £350 million (£473.94 million) in proceeds.
The announcement triggered a sharp market reaction, with the stock price dropping over 16% on the news.