Spire Global goes public via PSPC at a valuation of $ 1.6 billion

Spire Global goes public via PSPC at a valuation of $ 1.6 billion

A Spire satellite in orbit.

Spire Global

Small manufacturer of satellites and data Specialist Spire Global plans to go public, announcing Monday that it is the latest among several space companies to merge with a SPAC.

Spire Global merges with special purpose acquisition company NavSight. When the deal goes through, which is expected this summer, Spire Global will be listed on the New York Stock Exchange under the symbol SPIR.

“Spire was founded almost ten years ago to help lead, inspire and create the space industry data. Today our owner data and the solutions help customers solve some of the planet’s biggest challenges, ”said Peter Platzer, Founder and CEO of Spire, in a press release.

The company’s Lemur satellites are small and relatively inexpensive, each housing a variety of instruments. Speyer satellites help forecast the weather, track ships at sea and airplanes in flight. Spire plans to use the funds from the PSPC deal to grow its business in a number of ways – from expanding its sales team to reaching new geographies and acquiring. more abilities via software or data acquisitions of analyzes.

Spire plans to raise around $ 475 million in cash …

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