Spire Global effects 1-for-8 reverse stock split effective Aug 31, 2023 to meet NYSE listing requirement

Spire Global, Inc.

Reverse stock split at 1-for-8 ratio effective 12:01 a.m. ET on August 31, 2023.
Class A shares reduce from 166.8M to ~20.8M; Class B from 12.1M to ~1.5M.
Purpose: increase per-share price to meet NYSE minimum average closing price requirement.
No fractional shares issued; cash paid for Class A fractional shares; Class B fractional shares forfeited.
New CUSIP 848560 306; stock begins trading split-adjusted at market open on August 31.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.95

Spire Global, Inc.: The Company filed a Certificate of Amendment to the Restated Certificate of Incorporation to effect a 1-for-8 reverse stock split of its Class A and Class B common stock, effective at 12:01 a.m. Eastern Time on August 31, 2023 (effective 2023-08-31).

Change: charter amendment
Effective: 2023-08-31

Exact text from the filing

On August 30, 2023, the Company filed a Certificate of Amendment to the Restated Certificate of Incorporation with the Delaware Secretary of State to effect the Reverse Stock Split, effective at 12:01 a.m. Eastern Time on August 31, 2023 (the “Effective Time”).

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Spire Global, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-045434

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