Spire Global is suing Kpler, alleging that the Belgian technology firm has failed to follow through on its plans to buy Spire Maritime, an AIS data provider.
On November 13 of last year, Spire Global signed a stock purchase agreement with Kpler to sell its maritime business. Since then, however, Kpler has been unable to consummate the closing, Spire Global stated in a release.
“The buyer has cited several reasons for declining to close, which the company has rejected,” stated Spire Global, revealing that it has filed a complaint in the Delaware Court of Chancery this week in an attempt to enforce the deal, warning shareholders that it faces significant debt problems if …
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