By Connor Hart
Shares of Spire Global climbed after the company reached an agreement with Kpler regarding a disputed deal for its maritime business.
The stock rose 32%, to $9.86, in after-hours trading. Through Monday's close, shares have lost more than 40% of their value in the past year.
Under the agreement, Spire and Kpler will resolve the ongoing litigation and mutually release claims, assuming that the disputed sale closes by April 25.
Spire agreed to sell its maritime business to Kpler for about $241 million in November.
However, Spire filed a complaint earlier this year against Kpler that alleged the company breached its obligations under the purchasing contract.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 07, 2025 17:43 ET (21:43 GMT)
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