Our Core Satellite & Space index was up +3.0% in November, underperforming the S&P 500 which saw a gain of +8.9% and the MSCI Global (ex.-U.S.) index which saw a gain of +8.3%.
There were nine minority VC/PE equity financings, four M&A transactions, and one public equity financing.
Equity financing activity was down in November (9 vs. 16 financings in the prior month), while in contrast M&A volumes rebounded to normalized levels after just one deal in each of September and October.
In the SPAC realm, stratospheric balloon company World View announced that it terminated its plans to go public via a SPAC merger with LEO Holdings Corp II due to the change in market conditions over the last two years.