2 minute read•Updated 11:32 AM EDT, Fri March 29, 2024
Japanese lunar exploration company ispace is preparing to go public on the Tokyo Stock Exchange Growth Market.
On March 8th, ispace won approval to list its shares on the Tokyo Stock Exchange Growth Market, a market reserved for smaller, higher-risk companies. ispace plans to offer about 24.7 million shares in the initial public offering, out of 78.6 million shared issued.
“We are always looking for multiple ways to raise funds to support our future missions...An IPO is one solution for that” - Takeshi Hakamada, Founder & Chief Executive of ispace
The listing will enable the company to start discussions with global investors in the stock market and request their participation in its long-term goal of establishing a "unified ecosystem" between the Earth and moon. ispace has raised nearly $200 million in several private rounds, including a $46 million Series C round in 2021.
ispace reported having 93 million yen ($0.7 million) in capital as of March 8 in the market listing.
The company's first lander, the HAKUTO-R Mission 1, is set to land at Atlas Crater around the end of April, with the spacecraft scheduled to enter orbit around the moon in late March.
