NavSight Holdings, Inc. (NYSE: NSH, “NavSight”), a publicly-traded special purpose acquisition (SPAC) company, and Spire Global, Inc. (“Spire”) have announced that NavSight’s registration statement on Form S-4 (File No. 333-256112), relating to the previously announced merger of NavSight and Spire (the “Business Combination”), has been declared effective by the U.S. Securities and Exchange Commission as of July 22, 2021.
NavSight also announced that it will hold the special meeting of stockholders (the “Special Meeting”) on August 13, 2021, at 10:00 a.m. ET to, among other things, allow its stockholders to vote to approve the proposed Business Combination with Spire. The Special Meeting will be completely virtual and conducted via live webcast.
Stockholders of record of NavSight common stock as of the close of business on the record date of June 21, 2021 may vote at or before the Special Meeting.
If the proposals at the Special Meeting are approved, the parties anticipate that the Business Combination will close shortly thereafter, subject to the satisfaction or waiver (as applicable) of all other closing conditions. Upon the closing of the Business Combination, the parties expect that the combined company will operate as Spire Global, Inc., and that the shares of common stock and the warrants of the combined company are expected to be listed on New York Stock Exchange under the symbols “SPIR” and “SPIR.WS,” respectively.
Spire’s merger with special-purpose acquisition company NavSight values the company at $1.6 billion. The deal gives Spire about $475 million in cash to accelerate data-gathering and analysis operations across maritime, aviation, weather, climate and other markets.