Skadden advised Astroscale Holdings Inc., (Astroscale), a provider of space debris collection and other on-orbit services, on its Initial Public Offering (IPO) and listing on the Tokyo Stock Exchange Growth Market.
The ¥23.8 billion (approximately US$153 million) global offering of 28,054,100 shares of common stock (including the over-allotment option shares) at an initial IPO price of ¥850 values the company at ¥98.7 billion (approximately US$632 million). Astroscale intends to use the IPO proceeds primarily towards project development and R&D.
Astroscale is the first space debris removal company to conduct an IPO and the second space industry global IPO in Japan, following ispace Inc.’s global IPO in 2023 on which Skadden also advised.
The Skadden team was led by Corporate Partner Kenji Taneda (Tokyo), with Counsel Ken Kiyota (Tokyo), and Associates Matthew Longarini (Tokyo) and Jaewon Moon (Tokyo).
