Spire Global gets $120 million four-year term loan via Blue Torch

By Wendy Van Sickle

Columbus, Ohio, June 14 – Spire Global, Inc. entered into an agreement on Monday providing for a $120 million term loan with Blue Torch Finance LLC as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The term loan is scheduled to mature on June 13, 2026.

Of the $120 million, $19.7 million was placed in an escrow account to be released on the company achieving $96 million in annualized recurring revenue and a total annualized recurring revenue leverage ratio of not greater than 1.25 to 1.00.

The term loan accrues interest at term SOFR plus 800 basis points with a 1% SOFR floor.

The company was required to pay a $2.4 million commitment fee at closing and must pay a $250,000 agency fee annually and an exit fee in an amount equal to $1.8 million upon termination of the credit agreement.

Proceeds may be used for general corporate purposes and to refinance the company’s existing $70 million credit facility with FP Credit Partners, LP.

Based in Vienna, Va., Spire Global is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites to track maritime, aviation and weather patterns.

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