BUZZ-Spire Global soars after litigation settlement agreement for maritime deal

Reuters
08 Apr
BUZZ-Spire Global soars after litigation settlement agreement for maritime deal

** Shares of satellite operator Spire Global SPIR.N up 25% to $9.35 early Tues after reaching agreement over disputed deal for its maritime business

** SPIR shares on course for biggest one-day pct gain since Mar 19, 2024

** Vienna, Virginia-based space-based data and analytics firm late Mon said in a filing it and Kpler will resolve ongoing litigation and mutually release claims, assuming maritime business sale closes by Apr 25

** Spire agreed to sell the maritime unit to Kpler for about $241 mln in Nov

** But in Feb, Spire filed a complaint that alleged Kpler breached its obligations under the purchasing contract

** Even with the advance on the session, SPIR shares have lost ~33% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10