Spire Global Inc. (NYSE: SPIR) announced it has entered into a securities purchase agreement for a private placement expected to generate gross proceeds of approximately $70 million before deducting placement agent fees and offering expenses.

The satellite data and analytics company is selling 5 million shares of Class A common stock at $14 per share. The private placement is expected to close on or about April 10, 2026, subject to customary closing conditions.

Craig-Hallum Capital Group LLC served as the sole placement agent for the transaction.

Spire plans to use the net proceeds for working capital and general corporate purposes, including accelerating growth in U.S. and international markets for space reconnaissance and government procurement of commercial space-based weather data. The company also intends to enhance sales and marketing capabilities, deploy technology for radio frequency geolocation and weather data solutions, and strengthen cyber security infrastructure to support sovereign data and constellation opportunities.

The securities are being sold in a transaction not involving a public offering and have not been registered under the Securities Act of 1933. The shares may not be reoffered or resold in the United States except pursuant to an effective registration statement or applicable exemption from registration requirements. Under a registration rights agreement, Spire agreed to file a registration statement with the Securities and Exchange Commission covering the resale of shares issued in the private placement.

Spire operates a satellite constellation that provides global weather intelligence, ship and plane movements tracking, and spoofing and jamming detection services.