Spire Global gets waiver from Blue Torch, adds 2.5% PIK interest, replaces leverage covenant with min EBITDA

Spire Global, Inc.

Waives defaults for leverage ratio, liquidity, and missing 2025 projections; requires projections by March 16, 2025.
Replaces maximum debt/EBITDA covenant with minimum EBITDA covenant; adjusts Total ARR Leverage Ratio thresholds.
Increases applicable margin by 2.50% as PIK interest; adds $2.5M amendment fee and $1M extension fee (PIK).
Must engage liquidity management advisor and incur at least $15M junior capital by March 21, 2025.

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