Spire Global (SPIR) announced that it has entered into a securities purchase agreement for a private placement that is expected to result in

Pursuant to the terms of the securities purchase agreement, Spire is selling an aggregate of 5.0 million shares of its Class A common stock (or pre-funded warrants in lieu thereof) at a purchase price of $8.

Spire Global shares declined 8.2% in premarket trading following a private placement. Shares were trading around $9.40. The stock is down 13% over the last year. The provider of space-based data, analytics and space services said the private placement is expected to result in gross proceeds of about $40 million before fees and expenses,