Spire Global Inc
Filed Apr 28, 2025.
View on SEC.govAbout this filing
A company's registration of shares for sale to the public, often for a first offering. It describes the business, its risks and how the company plans to use the money.
period unavailable · Filed Apr 28, 2025
Contents
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
The SEC allows us to “incorporate by reference” the information we file with them, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is an important part of this prospectus, and information that we file later with the SEC will automatically update and supersede this information. We incorporate by reference the documents listed below and all documents we file pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act on or after the date of the initial filing of the registration statement of which this prospectus is a part and prior to effectiveness of the registration statement, and on or after the date of this prospectus and prior to the termination of the offering under this prospectus (other than, in each case, documents or information deemed to have been furnished and not filed, including any information that we disclose under Items 2.02 or 7.01 of any Current Report on Form 8-K, in accordance with SEC rules):
(i)
our Annual Report on Form 10-K/A for the year ended December 31, 2023, as filed with the SEC on March 3, 2025, and our Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on March 31, 2025, as amended by our Annual Report on Form 10-K/A filed with the SEC on April 4, 2025;
(ii)
our Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2024, filed with the SEC on March 3, 2025, our Quarterly Reports on Form 10-Q for the quarter ended June 30, 2024, filed with the SEC on March 3, 2025, and for the quarter ended September 30, 2024, filed with the SEC on March 3, 2025;
(iii)
our definitive proxy statement on Schedule 14A, as filed with the SEC on April 22, 2025.
(iv)
our Current Reports on Form 8-K filed with the SEC on February 7, 2025, February 11, 2025, February 19, 2025, March 5, 2025, March 13, 2025, March 17, 2025, March 24, 2025, April 4, 2025, April 7, 2025 and April 25, 2025; and
(v)
the description of our Class A common stock contained in the registration statement on Form 8-A12B filed with the SEC on September 8, 2020, together with any amendment or report that we may file for the purpose of updating this description.
We will provide to any person, including any beneficial owner, to whom a prospectus is delivered, at no cost, upon written or oral request, a copy of any or all of the reports or documents that have been incorporated by reference in the prospectus contained in the registration statement but not delivered with the prospectus. You should direct requests for documents to:
8000 Towers Crescent Drive, Suite 1100
Attn: Alison Engel, Chief Financial Officer
Telephone: (202) 301-5127
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
ITEM 13. Other Expenses of Issuance and Distribution
The following table lists the costs and expenses payable by the Company in connection with the sale of the shares of Class A common stock covered by this prospectus. All amounts shown are estimates except for the SEC registration fee.
| SEC registration fee | | | $ 6,038 |
|---|---|---|---|
| Legal fees and expenses | | | 200,000 |
| Accounting fees and expenses | | | 20,000 |
| Financial Printer and miscellaneous fees and expenses | 5,000 | ||
| Total | | | $ 231,038 |
ITEM 14. Indemnification of Directors and Officers
Section 145(a) of the DGCL provides, in general, that a corporation may indemnify any person who was or is a party to or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation), because he or she is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding, if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful.
Section 145(b) of the DGCL provides, in general, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor because the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification shall be made with respect to any claim, issue or matter as to which he or she shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of the case, he or she is fairly and reasonably entitled to indemnity for such expenses that the Court of Chancery or other adjudicating court shall deem proper.
Section 145(g) of the DGCL provides, in general, that a corporation may purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of his or her status as such, whether or not the corporation would have the power to indemnify the person against such liability under Section 145 of the DGCL.
We entered into, and expect to continue to enter into, indemnification agreements with our directors and executive officers. These indemnification agreements may require us, among other things, to indemnify our directors and executive officers against liabilities that may arise by reason of their status or service. These indemnification agreements shall also require us to advance all expenses reasonably and actually incurred by our directors and executive officers in investigating or defending any such action, suit or proceeding. The registrant believes that these provisions and agreements are necessary to attract qualified directors and executive officers.
We also maintain standard policies of insurance that cover certain liabilities of our directors and officers arising out of claims based on acts or omissions in their capacities as directors or officers.
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ITEM 15. Recent Sales of Unregistered Securities
February 2024 Private Placement
On February 4, 2024, we entered into a securities purchase agreement (the “2024 Purchase Agreement”) with Signal Ocean Ltd (“Signal Ocean”), for the issuance and sale of 833,333 shares of our Class A common stock to Signal Ocean at a price of $12.00 per share (the “2024 Private Placement”). The 2024 Private Placement closed on February 8, 2024, resulting in gross proceeds to the Company of $10.0 million.
The 2024 Private Placement was exempt from the registration requirements of the Securities Act pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and in reliance on similar exemptions under applicable state laws.
February 2025 RSU Grants
On February 4, 2025, we issued restricted stock units for an aggregate of 183,550 shares of Class A common stock to certain of our employees under the 2021 Equity Incentive Plan.
These grants did not involve any underwriters, underwriting discounts or commissions or any public offering and were exempt from the registration requirements of the Securities Act pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and in reliance on similar exemptions under applicable state laws.
March 2025 Private Placement
On March 12, 2025, we entered into the 2025 Purchase Agreement with the purchasers named therein for the 2025 Private Placement of (i) 4,843,750 shares of our Class A common stock at a purchase price of $8.00 per share, and (ii) pre-funded warrants to purchase 156,250 shares of Class A common stock at a purchase price of $7.9999 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.0001 per share of Class A common stock, are exercisable immediately, and will terminate when exercised in full. The aggregate gross proceeds for the 2025 Private Placement were $40.0 million, before deducting offering expenses, and the 2025 Private Placement closed on March 14, 2025.
The 2025 Private Placement was exempt from the registration requirements of the Securities Act pursuant to the exemption for transactions by an issuer not involving any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act and in reliance on similar exemptions under applicable state laws.
ITEM 16. Exhibits and Financial Statement Schedules
(a)
Exhibit Index
| Incorporated by Reference | |||||
|---|---|---|---|---|---|
| ExhibitNumber | Description | Form | File No. | Exhibit | Filing Date |
| 3.1 | Amended and Restated Certificate of Incorporation, as amended through June 5, 2024. | 8-K | 001-39493 | 3.2 | June 6, 2024 |
| 3.2 | Bylaws of Spire Global, Inc. | S-1 | 333-259733 | 3.2 | September 23, 2021 |
| 4.1 | Form of Pre-Funded Warrant. | 8-K | 001-39493 | 4.1 | March 17, 2025 |
| 5.1* | Opinion of Faegre Drinker Biddle & Reath LLP. | ||||
| 10.1 | Financing Agreement dated as of June 13, 2022, among Spire Global, Inc., Spire Global Subsidiary, Inc., Austin Satellite Design, LLC, Blue Torch Finance LLC and the lenders party thereto. | 8-K | 001-39493 | 10.1 | June 14, 2022 |
| 10.2 | Security Agreement dated as of June 13, 2022, among Spire Global, Inc., Spire Global Subsidiary, Inc., Austin Satellite Design, LLC and Blue Torch Finance LLC. | 8-K | 001-39493 | 10.2 | June 14, 2022 |
| 10.3 | Amendment No. 1 to Financing Agreement, dated as of March 21, 2023, among Spire Global, Inc., Spire Global Subsidiary, Inc., Austin Satellite Design, LLC, Blue Torch Finance LLC and the lenders party thereto. | 8-K | 001-39493 | 10.1 | October 2, 2023 |
| 10.4 | Waiver and Amendment No. 2 to Financing Agreement, dated as of September 27, 2023, among Spire Global, Inc., Spire Global Subsidiary, Inc., Austin Satellite Design, LLC, Blue Torch Finance LLC and the lenders party thereto. | 8-K | 001-39493 | 10.2 | October 2, 2023 |
| 10.5 | Amendment No. 3 to Financing Agreement, dated as of April 8, 2024, among Spire Global, Inc., Spire Global Subsidiary, Inc., Austin Satellite Design, LLC, Blue Torch Finance LLC and the lenders party thereto. | 10-Q | 001-39493 | 10.4 | May 14, 2024 |
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| 10.6 | Waiver and Amendment No. 4 to Financing Agreement, dated as of August 27, 2024, among Spire Global, Inc., Spire Global Subsidiary, Inc., Austin Satellite Design, LLC, Blue Torch Finance LLC and the lenders party thereto. | 8-K | 001-39493 | 10.1 | August 29, 2024 |
| 10.7 | Waiver and Amendment No. 5 to Financing Agreement, dated as of March 12, 2025, among Spire Global, Inc., Spire Global Subsidiary, Inc., Austin Satellite Design, LLC, Blue Torch Finance LLC and the lenders party thereto. | 8-K | 001-39493 | 10.1 | March 13, 2025 |
| 10.8 | Equity Distribution Agreement, dated September 14, 2022, by and between Spire Global, Inc. and Canaccord Genuity LLC. | 8-K | 001-39493 | 10.1 | September 14, 2022 |
| 10.9 | Amendment to the Warrant Agreement, dated December 19, 2022, by and between Company and American Stock Transfer & Trust Company. | 8-K | 001-39493 | 10.1 | December 19, 2022 |
| 10.10 | Investor Rights Agreement, dated as of February 28, 2021, by and among the registrant, Six4 Holdings, LLC, Gilman Louie, Henry Crumpton, Jack Pearlstein, Robert Coleman, William Crowell, Peter Platzer, Theresa Condor, William Porteous and Stephen Messer. | S-4/A | 333-256112 | Annex I | July 16, 2021 |
| 10.11+ | Spire Global, Inc. 2021 Equity Incentive Plan, as amended effective June 4, 2024. | 8-K | 001-39493 | 10.1 | June 6, 2024 |
| 10.12+ | Spire Global, Inc. 2021 Employee Stock Purchase Plan, conformed to reflect the reverse stock split effective August 31, 2023. | 8-K | 001-39493 | 10.2 | September 7, 2023 |
| 10.13+ | Offer Letter between Leonardo Basola and Spire Global Subsidiary, Inc., effective as of August 10, 2023. | 8-K | 001-39493 | 10.1 | August 16, 2023 |
| 10.14+ | Executive Employment Agreement, dated as of November 27, 2023, between Spire Global, Inc. and Leo Basola. | 8-K | 001-39493 | 10.3 | December 1, 2023- |
| 10.15+ | Consulting Agreement, effective August 12, 2024, between Thomas Krywe and Spire Global, Inc. | 8-K | 001-39493 | 10.2 | December 3, 2024 |
| 10.16+ | Spire Global, Inc. Outside Director Compensation Policy, as amended, effective June 13, 2023. | 10-Q | 001-39493 | 10.2 | August 9, 2023 |
| 10.17+ | Spire Global, Inc. Executive Officer Short-Term Incentive Plan. | 10-Q | 001-39493 | 10.1 | August 9, 2023 |
| 10.18+ | Managing Director Service Agreement, dated as December 19, 2024, between Peter Platzer and Spire Global Germany GmbH. | 8-K | 001-39493 | 10.1 | December 20, 2024 |
| 10.19+ | Executive Employment Agreement, dated as of November 27, 2023, between Spire Global, Inc. and Boyd Johnson. | 10-K | 001-39493 | 10.21 | March 6, 2024 |
| 10.20+ | Employment Contract, dated as of December 19, 2024, between Theresa Condor and Spire Global Germany GmbH. | 8-K | 001-39493 | 10.2 | December 20, 2024 |
| 10.21+ | Form of Spire Global, Inc. 2024 Commission Plan. | 10-K | 001-39493 | 10.21 | March 31, 2025 |
| 10.22+ | Form of Spire Global, Inc. 2024 Salary Adjustment and Annual Performance Bonus. | 10-K | 001-39493 | 10.22 | March 31, 2025 |
| 10.23+ | Form of Change in Control and Severance Agreement of Spire Global, Inc. | S-4/A | 333-256112 | 10.18 | July 16, 2021 |
| 10.24 | Contribution Agreement by and between Her Majesty the Queen in Right of Canada and exactEarth Ltd. dated as of October 18, 2018, with Amendment No. 1 dated as of November 22, 2021. | 10-K | 001-39493 | 10.15 | March 30, 2022 |
| 10.25 | Contract, dated January 20, 2025, between exactEarth Ltd. and His Majesty the King in right of Canada, as represented by the Minister of Public Works and Government Services, as assigned to Spire Global Canada Subsidiary Corp. on January 21, 2025. | 8-K | 001-39493 | 10.1 | February 7, 2025 |
| 10.26+ | Employment Contract, effective January 6, 2025, between Celia Pelaz and Spire Global Germany GmbH. | 8-K | 001-39493 | 10.1 | December 3, 2024 |
| 10.27 | Securities Purchase Agreement, dated as of March 21, 2024, by and among Spire Global, Inc. and the purchasers party thereto. | 8-K | 001-39493 | 10.1 | March 21, 2024 |
| 10.28 | Securities Purchase Agreement, dated February 4, 2024, by and among Spire Global, Inc. and Signal Ocean Ltd. | 8-K | 001-39493 | 10.1 | February 8, 2024 |
| 10.29 | Securities Purchase Agreement, dated March 12, 2025, by and between the Company and the Purchasers named therein. | 8-K | 001-39493 | 10.1 | March 17, 2025 |
| 10.30 | Registration Rights Agreement, dated March 12, 2025, by and between the Company and the Purchasers named therein. | 8-K | 001-39493 | 10.2 | March 17, 2025 |
| 21.1 | Subsidiaries of Registrant | 10-K | 001-39493 | 21.1 | March 6, 2024 |
| 23.1* | Consent of PricewaterhouseCoopers LLP, independent registered public accounting firm | ||||
| 23.2* | Consent of Faegre Drinker Biddle & Reath LLP (included in its opinion filed as Exhibit 5.1). | ||||
| 24.1* | Power of Attorney (set forth on the signature page to the initial filing of the registration statement) | ||||
| 107* | Filing Fee Table | ||||
- Indicates management contract or compensatory plan or arrangement.
- Filed herewith
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(b)
Financial Statement Schedules
All financial statement schedules are omitted because the information called for is not required or is shown either in the financial statements or in the notes thereto.
ITEM 17. Undertakings
(a)
The undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the “Calculation of Filing Fee Tables” or “Calculation of Registration Fee” table, as applicable, in the effective registration statement;
(iii)
To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
Provided, however, that paragraphs (a)(1)(i), (ii) and (iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the registration statement.
(2)
That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(4)
That, for the purpose of determining liability under the Securities Act to any purchaser:
(i)
Each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.
(5)
That, for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution of the securities:
The undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(i)
any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;
(ii)
any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;
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(iii)
the portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of an undersigned registrant; and
(iv)
any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.
(b)
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant’s annual report pursuant to Section 13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Vienna, Virginia, on the 28th day of April 2025.
| | | SPIRE GLOBAL, INC. | |||
| | | | | ||
| | | By: | | | /s/ Theresa Condor |
| | | Name: | | | Theresa Condor |
| | | Title: | | | President, Chief Executive Officer and Director |
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