SAN FRANCISCO (Astranis PR)–Astranis, the company building the next generation of telecommunication satellites, today announced a $250 million Series C financing round, valuing the company at $1.4 billion.
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“BofA Securities”
- Spire collects spaced-based data through their proprietary constellation of over 100 satellites
- Spire has a technology stack that is proven, at scale, and fully operational
- Spire delivers subscription-based data, insights, and predictive analytics to global customers across a range of industries, including maritime, aviation, weather, and climate
- Transaction funds growth strategy across key verticals and geographies, accelerates sales, marketing, and product development, and further strengthens competitive advantage
- Transaction values the combined company at a $1.6 billion post-money equity value and is expected to provide approximately $475 million in gross proceeds, assuming no redemptions
- Includes an upsized, and fully committed $245 million common stock PIPE, anchored by Tiger Global Management, funds and accounts managed by BlackRock, Hedosophia, JAWS – the family office of Barry Sternlicht, and Bloom Tree Partners
- Spire stockholders, NavSight stockholders, and PIPE investors will hold shares in the combined company to be listed on the NYSE under the ticker symbol “SPIR”
- Business combination expected to be completed in summer 2021
- Investor webcast and call is scheduled for March 1st, at 8:30 AM EST
SAN FRANCISCO & RESTON, Va., March 1, 2021 (Spire Global/NavSight Holdings PR) — Spire Global, Inc. (“Spire” or the “Company”)a leading global provider of space-based data and analytics, and NavSight Holdings Inc. (“NavSight”) (NYSE: NSH), a special purpose acquisition company, today announced they have entered into a definitive merger agreement for a business combination that would result in Spire becoming a publicly listed company.
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