spacetoday.net: Spire goes public through SPAC

Spire goes public through SPAC

Posted: Sun, Mar 7, 2021, 11:41 AM ET (1641 GMT)
Spire Global is the latest space company to go public through a merger with a special-purpose acquisition company (SPAC). Spire announced Monday it is merging with NavSight, a deal that will provide Spire with $475 million in cash and value it at $1.6 billion. Spire said that funding will go toward sales, marketing and product development using data from its constellation of cubesats. Spire expects the deal to close in June, when it will be publicly traded on the New York Stock Exchange.

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