VIENNA, Va. & RESTON, Va.–(BUSINESS WIRE)–Spire Global, Inc. a leading global provider of space-based data, analytics and space services, today announced it has completed its previously announced business combination with NavSight Holdings, Inc. (NYSE: NSH) to take Spire public. The combined company has been renamed “Spire Global, Inc.” and its shares will commence trading on the New York Stock Exchange on August 17, 2021, under the ticker symbol “SPIR” for Spire common stock and “SPIRW” for Spire warrants.
Upon closing, the combined company received approximately $265 million in gross proceeds, comprised of approximately $20 million in cash held in trust by NavSight and the proceeds of a $245 million PIPE. NavSight’s shareholders approved the transaction at a shareholder meeting on August 13, 2021.
“We are excited to embark on our next chapter as a public company, and to continue to inspire, lead, and develop the business of space-based data,” said CEO Peter Platzer. “Building upon our fully deployed, proprietary satellite constellation and global infrastructure, we are focused on strengthening our ability to provide our customers with more data, faster, so that they can make better informed decisions about their missions and businesses, as well as some of the most pressing issues facing humanity today, including climate change mitigation and adaptation.”
As a public company, Spire’s position as a leading space-powered data, analytics, and space services company, with one of the world’s largest constellation of multi-purpose satellites in low earth orbit (LEO), is further strengthened. CEO and Co-Founder Peter Platzer, along with the rest of the Spire management team will continue to lead the company’s operations. As part of the business combination, Jack Pearlstein, Chief Financial Officer of NavSight, will join Spire’s board of directors.
“Jack and I are excited to support Peter and his team as Spire continues to execute on its strategic growth plan as a public company,” said Bob Coleman, Chairman and Chief Executive Officer of NavSight.
To memorialize the completion of the business combination, Spire will be ringing the opening bell at the NYSE at 9:30 a.m. ET on August 17, 2021. A live stream of the event and replay can be accessed by visiting https://www.nyse.com/bell.
Advisors
BofA Securities acted as exclusive financial advisor to Spire. Credit Suisse acted as exclusive financial advisor and capital markets advisor to NavSight. Credit Suisse acted as lead placement agent and BofA Securities also acted as placement agent in connection with the PIPE offering. Wilson Sonsini Goodrich & Rosati, P.C. served as legal advisor to Spire. Venable, LLP served as legal advisor to NavSight. Shearman & Sterling, LLP served as legal advisor to Credit Suisse and BofA Securities.
About Spire Global, Inc.
Spire is a leading global provider of space-based data, analytics, and space services, offering access to unique datasets and powerful insights about Earth from the ultimate vantage point so that organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world’s largest multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world’s toughest problems with insights from space. Spire has offices in San Francisco, Boulder, Washington DC, Glasgow, Luxembourg, and Singapore. To learn more, visit http://www.spire.com.
