Spire Global Announces Strategic Business Update; Debt to be Eliminated
Spire Global, Inc. Class A (SPIR)
US:NASDAQ Investor Relations:
spireenergy.com/investors
Company Research
Source: Business Wire
Spire entered into agreement to sell its maritime business for ~$241 million; purchase price ~5.8x trailing twelve months revenueCompany intends to eliminate debt through sale proceedsCompany intends to invest in growth and innovation of its data analytics and radio frequency geolocation solution offerings to address climate change and global security challenges for its customers VIENNA, Va.--(BUSINESS WIRE)--Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a global provider of space-based data, analytics and space services, today announced an agreement to a sell its maritime business to Kpler for approximately $241 million. The Company intends to use the proceeds of the sale to retire all outstanding debt and invest in near-term growth opportunities. The Company will hold a webcast at 10:00 am ET today to discuss the announcement.The $241 million transaction consists of a $233.5 million purchase price and $7.5 million for services over a twelve-month period, post close.
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SPIR
News
- Space stocks saw big gains this week in part due to ‘Trump-Elon trade' rally, analysts say [CNBC]CNBC
- Spire Global: Maritime Business Sale Provides Validation [Seeking Alpha]Seeking Alpha
- Spire Global, Inc. (NYSE: SPIR) had its price target raised by analysts at Canaccord Genuity Group Inc. from $12.00 to $18.00. They now have a "buy" rating on the stock.MarketBeat
- Spire Global, Inc. (NYSE: SPIR) had its price target raised by analysts at Alliance Global Partners from $17.00 to $24.00. They now have a "buy" rating on the stock.MarketBeat
- Spire Global, Inc. (NYSE: SPIR) had its price target raised by analysts at Robert W. Baird from $9.00 to $16.00. They now have a "neutral" rating on the stock.MarketBeat
SPIR
Earnings
- 5/15/24 - Miss
SPIR
Sec Filings
- 11/22/24 - Form 4
- 11/22/24 - Form 4
- 11/22/24 - Form 4
- SPIR's page on the SEC website