Our Core Satellite & Space index was down -8.1% in October, underperforming the S&P 500 which saw a loss of -2.2% and the MSCI Global (ex.-U.S.) index which saw a loss of -3.1%.
In October, there were 15 minority VC/PE equity financings, only one M&A transaction, and three public equity financings.  October marks the second consecutive month with just one M&A transaction announced after a relatively busy summer for such transactions.
In contrast, financing activity has remained steady throughout the year, with an average of 36 transactions announced per quarter in 2023, which is down from the peak volumes seen during 2021-2022.