By Connor Hart
Spire Global completed the sale of its maritime business and used the proceeds to pay off debt. Spire said it received about $233.5 million before adjustments from Kpler for its maritime business, plus a $7.5 million agreement for services over a 12-month period. Proceeds of the sale were used to retire all outstanding debt, and remaining proceeds will be used to invest in near-term growth opportunities. Spire shares rise 6.2%, to $11.30, in after-hours trading.
WW International, formerly known as Weight Watchers, received a letter from an activist investor arguing against a chapter 11 bankruptcy filing. Activist investor Galloway Capital Partners, which owns 2.87% of the company's stock, said the company's debt won't mature until 2028 and 2029, and that filing for bankruptcy wouldn't make sense. The weight-loss-program company's shares climbed 168%, to 40 cents, in market trading Friday, before retreating 3%, to 38 cents, after the close.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 25, 2025 18:27 ET (22:27 GMT)
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