Spire Global Announces Closing of $30 Million Registered Direct Offering
March 25 2024 - 3:05PM
Business Wire
Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a
global provider of space-based data, analytics and space services,
today announced that it has closed its previously announced
registered direct offering of 2,142,858 shares of Class A common
stock at a purchase price of $14.00 per share, resulting in gross
proceeds of approximately $30 million, before deducting placement
agent commissions and other offering expenses.
In addition, the Company has issued the investors in the
registered direct offering an option to acquire up to an additional
2,142,858 shares of Class A common stock at a price of $14.50 per
share until the date that is 100 days from the date of the closing
of the offering, resulting in additional gross proceeds of
approximately $31 million, if exercised.
The Company intends to use the net proceeds from the offering
for repayment of debt, working capital and general corporate
purposes.
A.G.P./Alliance Global Partners acted as the sole placement
agent for the offering.
This offering was made pursuant to an effective shelf
registration statement on Form S-3 (File No. 333-267413) previously
filed with the U.S. Securities and Exchange Commission (the “SEC”).
The offering was made only by means of a prospectus supplement and
accompanying prospectus, which was filed with the SEC and is
available on the SEC's website located at http://www.sec.gov.
Electronic copies of the prospectus supplement may be obtained from
A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor,
New York, NY 10022, or by telephone at (212) 624-2060, or by email
at prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Spire Global, Inc.
Spire (NYSE: SPIR) is a global provider of space-based data,
analytics and space services, offering unique datasets and powerful
insights about Earth so that organizations can make decisions with
confidence in a rapidly changing world. Spire builds, owns, and
operates a fully deployed satellite constellation that observes the
Earth in real time using radio frequency technology. The data
acquired by Spire’s satellites provides global weather
intelligence, ship and plane movements, and spoofing and jamming
detection to better predict how their patterns impact economies,
global security, business operations and the environment. Spire
also offers Space as a Service solutions that empower customers to
leverage its established infrastructure to put their business in
space. Spire has nine offices across the U.S., Canada, UK,
Luxembourg, Germany and Singapore.
Forward-Looking Statements
This press release contains forward-looking statements,
including information about the use of proceeds from the offering,
within the safe harbor provisions under The Private Securities
Litigation Reform Act of 1995. These statements involve known and
unknown risks, uncertainties and other factors which may cause the
results of Spire to be materially different than those expressed or
implied in such statements. Certain of these risk factors and
others are included in documents Spire files with the SEC,
including but not limited to, Spire’s Annual Report on Form 10-K
for the year ended December 31, 2023, as well as subsequent reports
filed with the SEC. Other unknown or unpredictable factors also
could have material adverse effects on Spire’s future results. The
forward-looking statements included in this press release are made
only as of the date hereof. Spire cannot guarantee future results,
levels of activity, performance or achievements. Accordingly, you
should not place undue reliance on these forward-looking
statements. Finally, Spire expressly disclaims any intent or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events, or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20240325701295/en/
Sarah Freeman Communications Manager Sarah.Freeman@spire.com
Benjamin Hackman Head of Investor Relations
Benjamin.Hackman@spire.com
Spire Global (NYSE:SPIR)
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