secwatch.observer — SEC 8-K summary
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Issuer:     Spire Global, Inc. (SPIR)
CIK:        0001816017
Form:       8-K
Filed at:   2025-03-13T23:59:59+00:00
Accession:  0000950170-25-038328
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1816017/000095017025038328/0000950170-25-038328-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1816017/000095017025038328/spir-20250312.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-038328

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer