Spire Global Announces Registered Direct Offering of $30 Million
March 21 2024 - 9:09AM
Business Wire
Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a
leading global provider of space-based data, analytics and space
services, today announced that it has entered into securities
purchase agreements with two institutional investors for the
purchase and sale of 2,142,858 shares of Class A common stock at a
purchase price of $14.00 per share pursuant to a registered direct
offering, resulting in gross proceeds of approximately $30 million,
before deducting placement agent commissions and other offering
expenses. The closing of the offering is expected to occur on or
about March 25, 2024, subject to the satisfaction of customary
closing conditions.
In addition, the Company has issued the investors 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 is acting as the sole placement
agent for the offering.
This offering is being 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 is made only by means of a prospectus supplement and
accompanying prospectus, which will be filed with the SEC and will
be available on the SEC's website located at http://www.sec.gov.
Electronic copies of the prospectus supplement may be obtained,
when available, 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 expected timing of closing and 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/20240321743323/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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