Spire Global (SPIR) Announces 5M Share Private Placement at $8/sh

Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a global provider of space-based data, analytics and space services, today announced that it has entered into a securities purchase agreement for a private placement that is expected to result in gross proceeds of approximately $40.0 million to the Company before deducting placement agent fees and offering expenses. The private placement is expected to close on or about March 14, 2025, subject to the satisfaction of customary closing conditions.

Pursuant to the terms of the securities purchase agreement, Spire is selling an aggregate of 5.0 million shares of its Class A common stock (or pre-funded warrants in lieu thereof) at a purchase price of $8.00 per share and $7.9999 per pre-funded warrant. Each pre-funded warrant will have an exercise price of $0.0001 per share of common stock, will be exercisable immediately and will expire when exercised in full.

Craig-Hallum Capital Group LLC acted as the sole placement agent for the private placement.

The Company intends to use the net proceeds from the private placement for working capital and general corporate purposes.

The offer and sale of the securities in the private placement as described above are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Pursuant to a registration rights agreement, Spire agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) covering the resale of the shares of common stock issued in this private placement and the shares of common stock underlying the pre-funded warrants.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

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