With Its Kpler Deal on the Rocks, Can Spire Stock Survive?
If you pay close enough attention to conference calls, you just might find a stock that can double -- like Spire Global.
Debt is dangerous. Getting out of debt can be tricky. And when you try and fail to get out of debt, things can get messy in a hurry. For a case study in all of the above, consider the unfortunate case of space company Spire Global (NYSE: SPIR).
With $131 million in debt on its balance sheet, but only $64 million in its bank account, and having just finished burning through $54 million in cash in 2023, Spire management decided late last year it was tired of being in debt and struck upon a way to extricate itself from debt entirely.
Privately held commodity data and analytics platform Kpler was offering to buy Spire's maritime ship-tracking subsidiary for $241 million, cash.
