Spire Global to go public in SPAC deal

Satellite data startup Spire Global has agreed to merge with a blank-check company, NavSight Holdings. The deal values the combined company at $1.6 billion and provides Spire with $475 million in cash. Tiger Global led a $245 million PIPE round, along with BlackRock, Hedosophia, Bloom Tree Partners and Barry Sternlicht's JAWS. Spire operates a network of more than 100 small satellites and provides data to industries such as airlines and shipping. The San Francisco-based company was valued at $345 million in 2017, according to PitchBook data; it has been backed by RRE Ventures, Promus Ventures and Qualcomm Ventures.

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