From: exactEarth Ltd
Posted: Tuesday, November 23, 2021
exactEarth Ltd. (TSX: XCT) ("exactEarth" or the "Company"), a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions, is pleased to announce that it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving the plan of arrangement previously announced on September 14, 2021 (the "Arrangement") pursuant to which Spire Global, Inc. (NYSE: SPIR) ("Spire") will acquire all of the issued and outstanding common shares of exactEarth (the "Shares") through its wholly-owned indirect subsidiary Spire Global Canada Acquisition Corp. for CAD$2.5009 in cash and 0.1 of a share of Class A common stock of Spire for each Share held.
The granting of the final order follows the approval of the Arrangement by exactEarth shareholders on November 18, 2021. It is currently anticipated that the Arrangement will be completed at the end of November 2021, subject to the satisfaction or waiver of certain customary closing conditions. Following completion of the Arrangement, the shares of the Company will be delisted from the Toronto Stock Exchange (the "TSX").
About exactEarth Ltd.
exactEarth is a leading provider of global maritime vessel data for ship tracking and maritime situational awareness solutions. Since its formation in 2009, exactEarth has pioneered a powerful new method of maritime surveillance called Satellite AIS and has delivered to its clients a view of maritime behaviours across all regions of the world's oceans unrestricted by terrestrial limitations. exactEarth's second-generation constellation, exactView RT, securely relays satellite-detected AIS vessel signals from any location on the earth's surface to the ground in seconds – thus enabling global real-time vessel tracking. This unique capability consists of 58 advanced satellite payloads designed and built by L3Harris Technologies, Inc. under agreement with exactEarth and that are hosted onboard the Iridium NEXT constellation of satellites. www.exactearth.com
About Spire Global, Inc.
Spire is a leading global provider of space-based data, analytics, and space services, offering access to unique datasets and powerful insights about Earth from the ultimate vantage point so that organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world's largest multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world's toughest problems with insights from space. Spire has offices in San Francisco, Boulder, Washington DC, Glasgow, Luxembourg, and Singapore. To learn more, visit http://www.spire.com.
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