Spire Global shares are trading lower after the company announced a $30 million registered direct offering of 2,142,858 shares at $14.00 per share.
Portfolio Pulse from Benzinga Newsdesk
Spire Global's stock is trading lower following the announcement of a $30 million registered direct offering, pricing 2,142,858 shares at $14.00 each.

March 21, 2024 | 1:13 pm
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Spire Global's stock price is expected to face downward pressure in the short term due to the dilutive effect of the new share offering.
The announcement of a new share offering is typically viewed negatively by the market due to its dilutive effect on existing shares. The pricing of the offering at $14.00 per share, combined with the significant amount of new shares being introduced, is likely to exert downward pressure on Spire Global's stock price in the short term.
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