Spire Sues Kpler to Complete Maritime Acquisition and Warns of Debt Trouble

Spire Global reported it has filed a lawsuit against Kpler for a failure to close the acquisition of its maritime group while also warning shareholders of potential debt problems if the deal is not completed. The suit was filed in the Delaware Court of Chancery requesting a declaratory judgment that Kpler breached its obligation and to proceed with the closing of the acquisition.

Kpler, a data and analytics platform, agreed to acquire Spire Maritime, a provider of satellite-powered data for real-time global vessel tracking, from Spire Global with a cash payment based upon an enterprise value of $233.5 million plus an additional $7.5 million for a 12-month transition service and data provision agreement. At the time, Kpler said the acq…