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NavSight Holdings Inc. (NYSE: NSH) announced that shareholders approved all proposals for its merger with Spire Global, a space data and analytics provider. The merger, expected to close on August 16, 2021, will provide Spire with approximately $265 million in cash proceeds, including a $245 million PIPE. After the merger, the new company will operate under the name Spire Global, Inc. and trade on the NYSE as SPIR. A Form 8-K with detailed voting results will be filed with the SEC.
Spire Global, Inc. is expanding operations in East Asia through a partnership with Hancom Group, marking the first commercial satellite mission for a private South Korean company. Hancom will use Spire's LEMUR nanosatellite for its optical payload to enhance agricultural imaging services. This collaboration allows Hancom to act as Spire's first reseller in South Korea while planning to launch a constellation of nine satellites. This partnership aims to meet rising market demands for satellite imagery and geospatial analytics, bolstering Spire's global expansion.
Spire Global and Gravity Supply Chain have announced an extended strategic partnership to enhance maritime data solutions, initially established in 2017. This collaboration aims to provide businesses with crucial insights to secure their supply chains amidst complexities such as trade disruptions. Spire’s satellite data will allow users to monitor fleet and shipment locations globally. The companies emphasize the importance of real-time visibility in managing supply chains effectively. This move comes as part of Spire's ongoing efforts to deliver robust analytics and decision-making tools in the logistics sector.
Spire Global announced the participation of CEO Peter Platzer at the Canaccord Genuity 41st Annual Growth Conference on August 12 at 3:00 PM ET. A live webcast will be available for the presentation. Additionally, Spire will hold one-on-one meetings during the event. The press release highlights the upcoming special meeting of NavSight Holdings (NYSE: NSH) stockholders on August 13 to vote on a proposed business combination with Spire, following the SEC's approval of their registration statement on July 22. If approved, Spire will continue on the NYSE under the ticker symbols “SPIR” and “SPIR.WS.”
Spire Global has appointed Dr. Neil Jacobs as a Scientific Advisor to enhance its weather solutions and data offerings, especially for government partners. Dr. Jacobs, formerly Acting U.S. Under Secretary of Commerce for Oceans and Atmosphere, brings a wealth of experience in atmospheric science. This move is aimed at addressing the increasing impacts of climate change on businesses and society. Spire utilizes a large satellite constellation to provide unique data insights, helping organizations improve operations and manage risks. The company anticipates growth following its merger with NavSight Holdings.
NavSight Holdings (NYSE: NSH) has announced a special meeting for stockholders on August 13, 2021, regarding a proposed business combination with Spire Global. This merger aims to enhance Spire's capabilities in providing satellite data and analytics. The registration statement for this merger was declared effective by the SEC on July 22, 2021. If approved, the combined entity will operate as Spire Global, with shares listed under the symbol SPIR on the NYSE. The meeting will allow stockholders to vote on the proposed transaction, which is anticipated to close shortly after approval.
Spire Global announced its preliminary financial results for the first half of 2021, reporting revenues between $18.6 million and $19.0 million, a growth of 33-35% year-over-year. The company added 33 new Annual Recurring Revenue (ARR) solution customers, achieving a total of over 200. However, it also reported a net loss ranging from $46.6 million to $47.5 million, an increase of 217-223%. Spire has lowered its full-year revenue guidance to between $40.0 million and $42.0 million, down from $54 million, citing project delays. The special meeting for the merger with NavSight will take place on August 13, 2021.
Spire Global, a leader in space-based data and analytics, announced that CEO Peter Platzer will engage in a fireside chat with IPO Edge on August 4, 2021, at 1 PM ET. This discussion will focus on Spire's value across various industries including maritime and aviation, while addressing the merger with NavSight Holdings (NYSE: NSH), declared effective on July 22, 2021. A special meeting for NavSight stockholders will occur on August 13, 2021, to vote on this Business Combination, with expected shares listed under 'SPIR' upon closing.
NavSight Holdings, Inc. (NYSE: NSH) announced that its merger with Spire Global, Inc. has received SEC approval as of July 22, 2021. A special stockholder meeting will be held on August 13, 2021, for stockholders to vote on the Business Combination. If approved, the merger is expected to complete soon after. The combined entity will operate as Spire Global, Inc., with stocks listed under the symbols 'SPIR' for common shares and 'SPIR.WS' for warrants. Stockholders may vote if they are on record by June 21, 2021.
Spire Global has secured a six-million-dollar contract extension under NASA’s Commercial Smallsat Data Acquisition (CSDA) Program. The Task Order 6 (TO6) includes subscription data solutions like radio occultation and GNSS data, accessible to all federal agencies and researchers. Spire’s low Earth orbit satellites will provide consistent data, archiving it under NASA’s SmallSat Data Explorer. This partnership signifies the potential of private-public collaborations to address pressing issues like climate change, enhancing Earth observation capabilities.
