Spire Global, Inc. - SPIR STOCK NEWS

Spire Global, Inc. (NYSE: SPIR) announced its participation in the ACG Next Conference on January 17, 2023, in Washington, DC, with CFO Thomas Krywe presenting. As a leading provider of space-based data and analytics, Spire enables organizations to access unique datasets and make informed decisions. Their services aim to enhance business operations, reduce environmental footprints, and mitigate risks using insights from one of the largest satellite constellations in the world.

Spire Global, Inc. (NYSE: SPIR) has successfully completed its exchange offer and consent solicitation regarding outstanding warrants. This includes public and private warrants tied to the company’s IPO. In total, 3,311,286 shares of Class A Common Stock were issued in exchange for tendered warrants at a ratio of 0.20 shares per warrant. Additionally, Spire plans to retire all remaining untendered warrants on January 4, 2023, exchanging them at a 0.18 shares ratio. The completion of this process simplifies the company's capital structure, enhancing liquidity and investor confidence.

Spire Global, Inc. (NYSE: SPIR) announced the expiration of its exchange offer and consent solicitation for outstanding warrants. Approximately 87% of public warrants and 100% of private warrants were tendered for exchange. Holders of validly tendered warrants will receive 0.2 shares of Class A Common Stock for each warrant exchanged. Additionally, the company received approval from over 87% of public warrant holders for a Warrant Amendment, allowing for the acquisition and retirement of untendered warrants at an exchange ratio of 0.18 shares. Settlement is expected on December 19, 2022.

Spire Global (NYSE: SPIR) announced the launch of six satellites via SpaceX's Transporter-6 mission, scheduled for January 2023. These satellites will enhance Spire's weather and aviation solutions, featuring advanced ADS-B technology for global aircraft tracking. One satellite will test a polarimetric radio occultation (PRO) payload aimed at improving precipitation data for weather forecasting. This launch supports Spire's ongoing innovations in satellite technology and aims to bolster its operational capabilities in data collection and analytics.

Spire Global, Inc. (NYSE: SPIR) announced that its registration statement on Form S-4 for an Exchange Offer and Consent Solicitation has been declared effective by the SEC. The offer, expiring at 11:59 p.m. ET on December 14, 2022, allows holders of public and private warrants to exchange them for Class A Common Stock. The company aims to amend the Warrant Agreement to exchange each outstanding warrant for 0.18 shares instead of 0.2. Approximately 21% of Public Warrants and all Private Warrants have agreed to tender and consent. The firm's obligation to complete the offer is not contingent on a minimum number of warrants being tendered.

Spire Global, Inc. (NYSE: SPIR) has appointed Frank Frulio as General Manager of Space Services, leveraging his 25 years in telecommunications for business growth and product strategy. He will focus on Spire Space Services, enabling organizations to deploy satellite constellations via a subscription model. Frulio formerly led operations at Singtel and other major telecom firms. He will work from the company’s satellite manufacturing facility in Glasgow, Scotland. Co-founder Joel Spark will transition to Chief Satellite Architect, emphasizing engineering advancements.

Spire Global, Inc. (NYSE: SPIR) has initiated an exchange offer and consent solicitation for its outstanding public and private warrants. The offer allows warrant holders to exchange each warrant for 0.2 shares of Class A Common Stock. The Company aims to simplify its capital structure and mitigate the potential dilution impact of the Warrants, enhancing operational financing flexibility. A total of 3,619,996 shares are available under the offer, contingent upon additional consent from Public Warrant holders. The offer period ends on December 14, 2022.

Spire Global, Inc. (NYSE: SPIR), a leading provider of space-based data and analytics, announced participation in two upcoming events. The first is the Credit Suisse 10th Annual Global Industrials Conference on December 1, 2022, in Palm Beach, FL, where CEO Peter Platzer will present from 11:00 a.m. to 11:35 a.m. ET. The second event is the Morgan Stanley 5th Annual Space Summit on December 6, 2022, in New York, also presented by Peter Platzer. Spire leverages its extensive satellite constellation to provide critical data for improving business operations and environmental management.

Spire Global reported record quarterly revenue of $20.4 million for Q3 2022, a 114% year-over-year increase, driven by new customer additions and higher adoption rates. The annual recurring revenue (ARR) reached $98.1 million, reflecting a 117% increase YOY. The net cash used in operating activities improved by 53% to $10.2 million. Despite a GAAP operating loss of $16.4 million, the company is optimistic, reducing its cash burn and improving guidance for the year. Key contracts with NOAA further indicate business expansion.