Spire Global soars after litigation settlement agreement for maritime deal

Shares of satellite operator Spire Global SPIR.N up 25% to $9.35 early Tues after reaching agreement over disputed deal for its maritime business

SPIR shares on course for biggest one-day pct gain since Mar 19, 2024

Vienna, Virginia-based space-based data and analytics firm late Mon said in a filing it and Kpler will resolve ongoing litigation and mutually release claims, assuming maritime business sale closes by Apr 25

Spire agreed to sell the maritime unit to Kpler for about $241 mln in Nov

But in Feb, Spire filed a complaint that alleged Kpler breached its obligations under the purchasing contract

Even with the advance on the session, SPIR shares have lost ~33% YTD