NCM client Seraphim Capital’s portfolio company Spire Global has announced that it will be going public on the New York Stock Exchange via a SPAC merger with Navsight Holdings (NYSE: NSH) with Seraphim playing a key role in the facilitation of the transaction.
Spire was the very first investment in the Seraphim Space Fund just over four years ago. Spire builds satellites that help forecast weather, track ships at sea and airplanes in flight. The company’s Lemur satellites are small and comparatively inexpensive, each one hosting a variety of instruments and have the potential to dramatically improve how we forecast the weather. Weather disrupts 70% of businesses worldwide and costs more than $600 billion each year in the U.S. alone, and with climate change induced extreme weather events only growing more frequent, the need to more accurately forecast the weather has never been more urgent.
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