Spire Global files lawsuit to force Kpler to close $233.5M maritime business sale

Spire Global, Inc.

Spire seeks specific performance in Delaware Chancery Court to compel Kpler to complete the acquisition of its maritime business for $233.5M plus $7.5M in additional payments.
Spire claims all closing conditions were met by January 17, 2025; Kpler refused to close on January 24, 2025 without justification.
Kpler removed the case to federal court; Spire alleges Kpler is using pretextual reasons and not using best efforts under the 'hell-or-high-water' regulatory covenant.
Spire also seeks declaratory judgment that Kpler breached the Share Purchase Agreement and reserves the right to seek damages.
Proceeds from the sale were intended to retire all outstanding debt and invest in growth; deal uncertainty may affect financial plans.

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