Reported 28 days ago
Spire Global's shares dropped by 50% after the company filed a complaint against Kpler Holding for failing to close on a previously agreed-upon deal to sell its maritime business, valued at $233.5 million. The regulatory filing reveals that Spire believes all conditions for closing were met, but Kpler has cited various reasons for non-completion. The company is seeking a court order for specific performance and a declaration of breach of agreement, while the outcome of the court proceedings remains uncertain.
Source: YAHOO