Annual report pursuant to Section 13 and 15(d)

Business Acquisition - Schedule of Purchase Price Components (Details)

v3.22.4
Business Acquisition - Schedule of Purchase Price Components (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
USD ($)
Business Acquisition [Line Items]  
Value of Spire shares issued $ 22,333 [1]
Cash consideration paid 109,592 [2]
Total purchase consideration 128,953
Post Combination Expense  
Business Acquisition [Line Items]  
Less amount classified as post-combination expense (3) $ (2,972) [3]
[1] Represents the fair value of 5,230,167 shares of Spire Class A common share transferred as of the November 30, 2021 ("acquisition date") as consideration (based on the closing market price of $4.27 per share on the acquisition date) consisting of 4,984,225 shares issued for outstanding exactEarth shares, in addition to 100,047 and 145,895 shares to settle exactEarth stock options and RSUs, respectively.
[2] Included in the cash consideration are:
a.
$97,454 for outstanding exactEarth shares,
b.
$8,888 cash settlement of exactEarth stock options, RSUs and deferred stock units, and
c.
$3,250 related to acquisition fees of exactEarth paid by Spire upon the closing of the acquisition.
[3] $2,972 was treated as post-combination expense in connection with the replacement of exactEarth’s outstanding equity awards. This amount has been reflected in the consolidated statements of operations for the year ended December 31, 2021.