NSH Stock: 13 Things to Know About NavSight and the Spire Global SPAC Merger

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NavSight (NYSE:NSH) stock is getting a boost on Monday after the special purpose acquisition company (SPAC) announced merger plans with Spire Global.

SPACs join company on puzzle pieces and handshake, 3d render

Source: NESPIX / Shutterstock.com

Here’s everything potential investors in NSH stock need to know about the companies and their SPAC merger.

  • NavSight is a blank-check company created with the purpose of taking a private company public via merger.
  • The SPAC’s goal was to target a company offering “expertise and technology to U.S. government customers in support of their national security, intelligence and defense missions.”
  • Spire Global is a company that provides space-based data to its customers collected from its network of more than 100 satellites.
  • That includes “maritime, aviation, weather, and climate” information offered via its subscription services.
  • The SPAC merger between NavSight and Spire Global values the combined company at $1.6 billion.
  • It will also provide it with $475 million in gross proceeds.
  • That comes from $230 million in cash held in trust by NavSight.
  • To go along with that, an additional $245 million is coming from private investment in public equity (PIPE).
  • The deal will result in current Spire stockholders owning a 67% stake in the new company.
  • NavSight and Spire Global are expecting the deal to close in the summer of 2021.
  • NSH stock is seeing heavy trading today alongside the SPAC merger news.
  • That comes from more than 7 million shares trading as of this writing.
  • For comparison, its daily average trading volume is only about 133,000 shares.

NSH stock was up 7.5% as of Monday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/03/nsh-stock-13-things-to-know-about-navsight-and-the-spire-global-spac-merger/.

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