Shares of Spire Global, Inc. (SPIR) dropped over 13% on Thursday morning after it announced a private placement of $70 million.
The stock is currently trading at $17.76, down $2.74 or 13.36%, on the NYSE. It opened at $17.68 after closing the previous session at $20.50. The stock has traded between $6.60 and $19.09 over the past 52 weeks.
Spire Global announced a $70.0 million private placement, selling 5.0 million shares at $14.00 per share.
The company plans to use proceeds for working capital and to expand growth initiatives, including space-based data solutions, government contracts, and cybersecurity capabilities.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.