Spire Shares Drop 20% After $70M Deal

Spire Global announced a $70 million private placement of 5 million Class A shares at $14 each, 32% below the prior close.
The offering caused Spire’s NYSE-listed shares to tumble 20% on Thursday, falling from $20.50 to around $16.40.
Craig-Hallum Capital Group acted as sole placement agent, and the transaction is expected to close by April 10, 2026.
Proceeds will fund working capital, accelerate growth in U.S. and space reconnaissance, and enhance sales, RF geolocation, weather data, and cybersecurity capabilities.