Spire Global to sell 2.142M shares at $14.00 per share

Spire Global 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 $30M, before deducting placement agent commissions and other offering expenses. The closing of the offering is expected to occur on or about March 25, 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 $31M, if exercised. The company intends to use the net proceeds from the offering for repayment of debt, working capital and general corporate purposes.