NavSight Holdings set an Aug. 13 meeting for shareholders to vote on its proposed merger with Spire Global, a provider of space-based data, analytics and space services. The deal values the combined enterprise at $1.6 billion.
The SPAC also said its registration statement and prospectus on the transaction has been declared effective by the SEC.
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. Read more.
