Space-based data and analytics company Spire Global and NavSight Holdings today announced they have entered into a definitive merger agreement for a business combination that values the enterprise at $1.6 billion.
The transaction is expected to provide approximately $475 million in gross proceeds, assuming no redemptions, and 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 SPIR.
If approved, the deal is expected to be completed in the summer. Read more.
