Under the terms of the agreement, Spire will issue 5 million shares of its Class A common stock (or equivalent pre-funded warrants) at a price of $8.00 per share and $7.9999 per pre-funded warrant. Each pre-funded warrant carries an exercise price of $0.0001 per share, is immediately exercisable, and will remain valid until fully utilized.
Craig-Hallum Capital Group LLC acted as the exclusive placement agent for the private placement.
The company intends to allocate the net proceeds from this transaction toward working capital and general corporate purposes.
This offering and sale of securities were conducted as a private placement, not involving a public offering, and the securities have not been registered under the Securities Act of 1933, as amended. As such, these securities cannot be resold or offered within the United States unless registered or exempt from registration. As part of a registration rights agreement, Spire has committed to filing a registration statement with the Securities and Exchange Commission (SEC) to enable the resale of the issued common stock and the shares underlying the pre-funded warrants.
This announcement does not constitute an offer to sell or solicit an offer to buy these securities, nor does it imply any sale in a jurisdiction where such transactions would be unlawful before proper registration or qualification under applicable securities laws.
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