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The total transaction consideration of CAD$204,200,000 (US$161,200,000) comprises approximately CAD$130,900,000 (US$103,400,000) in cash and CAD$73,200,000 (US$57,800,000) in Spire Class A Common Stock.
Spire Global is based in Vienna, Virginia and provides data-gathering and analysis services in maritime and other markets with more than 110 Lemur satellites in low Earth orbit.
Based on the 10-day volume weighted average price of Spire’s Class A Common Stock of US$11.0223 (CAD$13.9564) on 2021-09-13, the total per share consideration represents CAD$3.90 (US$3.08) per exactEarth common share.
Spire Global, Inc. will acquire exactEarth Ltd. for approximately $161,200,000 (CAD$204,200,000) in cash and stock.
Based on the 10-day volume weighted average price of Spire Class A Common Stock of US$11.0223 (CAD$13.9564) on 2021-09-13, the total per share consideration for exactEarth shareholders is CAD$3.90 (US$3.08) per common share.
Spire Global started trading on the New York Stock Exchange on 2021-08-17 after merging with NavSight, a special purpose acquisition company (SPAC).
Spire Global, Inc. will acquire exactEarth Ltd. for approximately US$161,200,000 (CAD$204,200,000) in cash and stock.
Under the plan of arrangement, holders of exactEarth common shares will receive CAD$2.5009 (US$1.9751) in cash and 0.1 share of Spire Class A Common Stock for each exactEarth common share held.
Spire Global said the acquisition increases its customer base by more than 75%, adding over 150 S-AIS commercial and government customers across 39 countries.
Under the plan of arrangement, exactEarth common shareholders will receive CAD$2.5009 (US$1.9751) in cash and 0.1 share of Spire Class A Common Stock for each exactEarth common share held.
Spire Global, Inc. (NYSE: SPIR) was awarded an order to provide commercial radio occultation weather data for NOAA’s operational Numerical Weather Prediction models.
NOAA will purchase Level 0 and Level 1 radio occultation profiles from Spire.
Astra’s launch services support customers that observe Earth, including Planet and Spire, which provide satellite data used to track phenomena such as deforestation and illegal fishing.
Spire Global listed on the New York Stock Exchange on 2021-08-17 after merging with a SPAC and raised $265,000,000 from the transaction.
Spire Global initially projected raising $475,000,000 from its SPAC transaction.
Spire completed its SPAC merger and started trading on the New York Stock Exchange on 2021-08-17.
Spire Global recorded $36,000,000 in revenue in 2020 and aims to generate $70,000,000 in 2021 and $1,200,000,000 in sales by 2025.
Spire Global shares closed down 5.2% to $9.41 at the end of the company's first day as a public company on 2021-08-17.
Spire Global raised about $265,000,000 in cash from its SPAC merger with NavSight.
Spire Global operates more than 110 Lemur satellites in low Earth orbit.