TOKYO – August 23, 2024 – ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, announced today that INCJ, LTD. (INCJ), an investment fund that led ispace’s Series A financing in 2017, has sold all shares held in the company.
INCJ determined it had fulfilled its investment objective, therefore, had been slowly reducing ispace shares since April 2024. INCJ is mandated to end its operation period in March 2025.
The decision to sell all shares, which were reported in INCJ’s statement of large-volume holdings and change reports, was carefully considered through a series of dialogues between the investment fund and ispace.
For more details, please refer to INCJ’s press release: https://www.incj.co.jp/english/newsroom/upload/docs/E_20240906_PressRelease_INCJ.pdf
“INCJ gave ispace a strong boost at the most important phase of the very first step in the development of the lunar lander, when ispace raised $90.2 million* in Series A funding in Japan in 2017,” said Takeshi Hakamada, Founder and CEO of ispace. “Seven years after we first began building the lunar industry in Japan, INCJ’s sale of ispace shares due to the achievement of original investment objective shows us that our business has grown significantly since we went public. All of us at ispace are dedicated to the success of Mission 2 this winter.”
*Based on USD/JPY exchange rate on Dec 10, 2017
About ispace
ispace, a global lunar resource development company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with approximately 300 employees worldwide. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.
