Signal Ocean to make $10M strategic investment in Spire Global

Spire Global and Signal Ocean have agreed to partner to drive digitization of the maritime economy. Under this agreement, Spire and Signal Ocean will partner to leverage their respective strengths. Spire will contribute its unique, proprietary datasets, relevant for precise monitoring of the maritime domain. Signal Ocean will bring its best-in-class expertise in artificial intelligence (AI), machine learning and natural language processing to create new innovative solutions to propel the digitalization of the maritime economy while enhancing global security and transparency in our oceans. On February 4, 2024, Spire and Signal Ocean Ltd entered into a securities purchase agreement for the issuance and sale of 833,333 shares of the Company’s Class A common stock to Signal Ocean at a price of $12.00 per share . The Private Placement closed on February 8, 2024, resulting in gross proceeds to Spire of $10 million.