Spire Global Inks Contract With NorthStar For Dedicated Constellation

Spire Global Inc SPIR entered a new space-as-a-service agreement with NorthStar Earth & Space to build a constellation of satellites focused on space-situational awareness (SSA) and debris monitoring. Financial terms not disclosed.
The first award within the contract is for three satellites, with pre-agreed options for NorthStar to increase the constellation to dozens of satellites.
The first three satellites are expected to be launched early in 2023.
The partnership will deliver space-based Space Situational Awareness services to protect satellite infrastructure.
Price Action: SPIR shares are trading higher by 6.15% at $1.90 during the premarket session on Wednesday.