Spire Global secures waiver/amendment with Blue Torch; Q2 financials delayed, $10M payment due Aug 31

Spire Global, Inc.

Waived events of default for leverage ratio noncompliance and failure to deliver Q2 2024 financial statements under financing agreement with Blue Torch.
Amendment provides immediate covenant relief from leverage ratios; 3.5% amendment fee (paid-in-kind) added to principal.
Company required to make $10M principal payment on August 31, 2024; reduction in fee possible if refinance before Dec 31, 2024.
Preliminary cash, cash equivalents, and short-term marketable securities as of June 30, 2024: ~$46M.
Q2 2024 financial statements delayed due to ongoing review of revenue recognition and embedded leases in Space as a Service contracts.

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