Wall Street’s latest easy money craze has attracted a growing number of space companies. But, just because they can go public, should they?

by Douglas Messier
Managing Editor

Seven space companies have gotten caught up in the SPACovirus sweeping through Wall Street. The impact on the space industry is going to be interesting to watch.

A SPAC is a special purpose acquisition company. It’s a publicly traded investment firm that, with outside investors, acquires or merges with another company, and then takes the acquisition public under its own name.

• 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 1^st, 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.

LOS ANGELES, November 23, 2020 (Relativity Space PR — Relativity Space, the first company to 3D print an entire rocket and build the largest metal 3D printers in the world, today announced it closed a $500 million Series D equity funding round.

The round was led by Tiger Global Management with participation from new investors Fidelity Management & Research Company LLC, Baillie Gifford, ICONIQ Capital, General Catalyst, XN, Senator Investment Group, and Elad Gil. Existing investors participating in the round include BOND, Tribe Capital, K5 Global, 3L, Playground Global, Mark Cuban, Spencer Rascoff, and Allen & Company LLC, among others.