NavSight Holdings stockholders approved the proposed merger with Spire Global, a provider of space-based data, analytics and space services. The transaction values the combined enterprise at $1.6 billion.
The deal is expected to provide approximately $265 million in cash proceeds to Spire, including a $245 million PIPE.
Neither the press release announcing the vote nor a later 8-K filing disclosed redemptions, if any. However, in a March 1 press release announcing the deal, the SPAC had said the target was expected to receive about $475 million in gross proceeds.
The closing is expected today, after which Spire Global is expected to trade on the NYSE under SPIR. Read more.
