top of page
  • Satellite Evolution Group

Spire Global announces completion of merger with NavSight Holdings


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. 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 US$265 million in gross proceeds, comprised of approximately US$20 million in cash held in trust by NavSight and the proceeds of a US$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.


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.

bottom of page