Spire Global Reports Material Definitive Agreement on Feb 4
Ticker: SPIR · Form: 8-K · Filed: Feb 8, 2024 · CIK: 1816017
Complexity: simple
Sentiment: neutral
Topics: material-agreement, corporate-action, regulation-fd
TL;DR
**Spire Global just inked a major deal, could be a game-changer.**
AI Summary
Spire Global, Inc. filed an 8-K on February 8, 2024, reporting an event that occurred on February 4, 2024, related to an "Entry into a Material Definitive Agreement." This filing indicates a significant new agreement that could impact Spire's operations or financial standing. For investors, this matters because material agreements can lead to new revenue streams, strategic partnerships, or changes in operational costs, potentially affecting the stock's future performance and valuation.
Why It Matters
A material definitive agreement can signal new business opportunities, partnerships, or financial commitments that directly influence Spire Global's growth prospects and profitability.
Risk Assessment
Risk Level: medium — The filing indicates a material agreement but lacks specific details, creating uncertainty about its financial impact and strategic implications.
Analyst Insight
Investors should monitor Spire Global's future filings and press releases for specific details regarding the "Material Definitive Agreement" to assess its potential impact on the company's financials and strategic direction.
Key Players & Entities
- Spire Global, Inc. (company) — the registrant filing the 8-K
- February 4, 2024 (date) — date of the earliest event reported
- February 8, 2024 (date) — date the 8-K was filed
- 001-39493 (number) — Commission File Number for Spire Global, Inc.
- $0.0001 (dollar_amount) — par value per share of Class A common stock
Forward-Looking Statements
- Spire Global will provide more details about the material definitive agreement in a subsequent filing or press release. (Spire Global, Inc.) — high confidence, target: Q1 2024
FAQ
What was the specific nature of the "Material Definitive Agreement" entered into by Spire Global, Inc. on February 4, 2024?
The 8-K filing indicates an "Entry into a Material Definitive Agreement" on February 4, 2024, but it does not provide specific details about the nature of this agreement, such as the parties involved, the terms, or the financial implications. Further information would typically be disclosed in exhibits or subsequent filings.
Why did Spire Global, Inc. file this 8-K under Item 1.01 and Item 7.01?
Spire Global, Inc. filed this 8-K under Item 1.01 because it pertains to an "Entry into a Material Definitive Agreement," which is a significant event requiring disclosure. It also includes Item 7.01, "Regulation FD Disclosure," and Item 9.01, "Financial Statements and Exhibits," indicating that the company may have also made a public announcement or provided additional information that was not previously public.
What is the trading symbol and exchange for Spire Global, Inc.'s Class A common stock?
Spire Global, Inc.'s Class A common stock, with a par value of $0.0001 per share, trades under the symbol "SPIR" on The New York Stock Exchange, as stated in the filing.
What is the business address and phone number of Spire Global, Inc. as listed in the filing?
The business address for Spire Global, Inc. is 8000 Towers Crescent Drive, Suite 1100, Vienna, Virginia, 22182. Their telephone number is (202) 301-5127.
When was Spire Global, Inc. formerly known as NavSight Holdings, Inc.?
Spire Global, Inc. was formerly known as NavSight Holdings, Inc., and the date of this name change was June 24, 2020, according to the filing's former company information.
Filing Stats: 773 words · 3 min read · ~3 pages · Grade level 10.9 · Accepted 2024-02-08 16:06:15
Key Financial Figures
- $0.0001 — ed Class A common stock, par value of $0.0001 per share SPIR The New York Stock E
- $12.00 — mon stock to Signal Ocean at a price of $12.00 per share (the "Private Placement"). Th
- $10.0 million — ing in gross proceeds to the Company of $10.0 million. The parties to the SPA have each mad
Filing Documents
- spir-20240204.htm (8-K) — 48KB
- spir-ex10_1.htm (EX-10.1) — 238KB
- spir-ex99_1.htm (EX-99.1) — 16KB
- 0000950170-24-012756.txt ( ) — 489KB
- spir-20240204.xsd (EX-101.SCH) — 48KB
- spir-20240204_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On February 4, 2024, Spire Global, Inc. (the "Company") and Signal Ocean Ltd ("Signal Ocean") entered into a securities purchase agreement (the "SPA") for the issuance and sale of 833,333 shares ("Shares") of the Company's Class A common stock to Signal Ocean at a price of $12.00 per share (the "Private Placement"). The Private Placement closed on February 8, 2024 (the "Closing"), resulting in gross proceeds to the Company of $10.0 million. The parties to the SPA have each made customary representations, warranties and covenants that are typical for transactions of this type. Pursuant to the SPA, the Company also agreed to prepare and file a registration statement registering the Shares for resale under the Securities Act of 1933, as amended (the "Securities Act"), within 30 days of the Closing. The foregoing description of the SPA is qualified in its entirety by reference to the SPA, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On February 8, 2024, the Company issued a press release announcing the Private Placement. A copy of the press release is attached hereto as Exhibit 99.1. The information furnished pursuant to Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act, or the Exchange Act, except as may be expressly set forth by specific reference in such filing. The Company announces material information to the public about the Company, its products and services and other matters through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website (www.ir.spire.com), its Twitter account (@SpireGlobal), and its LinkedIn page in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibits Description 10.1 Securities Purchase Agreement, dated February 4, 2024, by and among Spire Global, Inc. and Signal Ocean Ltd. 99.1 News release of Spire Global, Inc. dated February 8, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. SPIRE GLOBAL, INC. Date: February 8, 2024 By: /s/ Peter Platzer Name: Title: Peter Platzer Chief Executive Officer