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  • Friday, April 26, 2024

NavSight Shareholders OK Spire Merger

Shareholders in NavSight Holdings (NYSE: NSH) voted at a special meeting Friday to approve the company’s proposed combination with space data provider Spire Global.

NavSight plans to report the full voting results in its Form 8-K filing with the Securities and Exchange Commission, the companies said in a joint statement Friday.

The merger, approved by the two companies’ board of directors earlier this year, is part of Spire’s growth strategy as it aims to pioneer a “space-as-a-service” delivery model.

San Francisco-based Spire expects to raise $265 million via the transaction, which includes private investment in public equity of $245 million.

Both parties aim to close the deal on August 16.

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