Long-Term Debt - Additional Information (Details) $ / shares in Units, $ in Thousands |
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1 Months Ended |
2 Months Ended |
12 Months Ended |
16 Months Ended |
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Jun. 13, 2022
USD ($)
$ / shares
shares
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Nov. 30, 2021
Installments
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Feb. 28, 2021
USD ($)
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Dec. 31, 2022
USD ($)
$ / shares
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Dec. 31, 2021
USD ($)
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Oct. 31, 2020
USD ($)
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May 17, 2021
USD ($)
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Debt Instrument [Line Items] |
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Interest expense long term debt |
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$ 13,955
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$ 8,368
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Amortization of Debt Issuance Costs and Discounts |
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3,781
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3,471
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Debt issuance costs, net |
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6,893
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24,852
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Issuance of shares to FP Credit Partners. L.P |
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22,868
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Gain (Loss) on extinguishment of Debt |
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(22,271)
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(2,277)
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Long-term debt |
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98,475
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51,124
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Long-term Debt, Gross |
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$ 105,368
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$ 75,976
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Number of Tranches | Installments |
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15
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Exchange price | $ / shares |
$ 2.01
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$ 11.50
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Debt Instrument, Interest Rate, Stated Percentage |
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8.00%
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Common Class A [Member] |
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Debt Instrument [Line Items] |
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Exchange price | $ / shares |
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$ 2.01
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New Spire Class A Common Stock [Member] |
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Debt Instrument [Line Items] |
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Stockholders Equity Note Stock Split Exchange Ratio |
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1.7058
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Blue Torch Term Loan Facility [Member] |
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Debt Instrument [Line Items] |
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Debt issuance costs |
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$ 4,516
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Line of credit facility, maximum borrowing capacity |
$ 120,000
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2019 and 2020 convertible notes [Member] |
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Debt Instrument [Line Items] |
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Debt issuance costs, net |
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$ 392
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Proceeds from Convertible Debt |
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$ 42,884
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2021 convertible notes [Member] |
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Debt Instrument [Line Items] |
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Debt issuance costs, net |
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$ 62
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Debt Instrument, Term |
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4 years
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Proceeds from Convertible Debt |
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$ 20,000
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Debt Instrument, Interest Rate, Stated Percentage |
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8.00%
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Debt Instrument, Convertible, Conversion Ratio |
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13.6466
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Debt Instrument, Term |
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4 years
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2020 Convertible Notes [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Convertible, Conversion Ratio |
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2.4808
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Convertible notes payable [Member] |
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Debt Instrument [Line Items] |
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Interest Payable |
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$ 2,103
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Debt Instrument, Increase, Accrued Interest |
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1,698
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Credit Agreement With Fp Credit Partners Lp [Member] | Blue Torch Term Loan Facility [Member] |
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Debt Instrument [Line Items] |
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Description of credit facility |
Subject to certain exceptions, prepayments of the Blue Torch Credit Facility will be subject to early termination fees in an amount equal to 3.0% of the principal prepaid if prepayment occurs on or prior to the first anniversary of the closing date, 2.0% of principal prepaid if prepayment occurs after the first anniversary of the closing date but on or prior to the second anniversary of the closing date and 1.0% of principal prepaid if prepayment occurs after the second anniversary of the closing date but on or prior to the third anniversary of the closing date, plus if prepayment occurs on or prior to the first anniversary of the closing date, a make-whole amount equal to the amount of interest that would have otherwise been payable through the maturity date of the Blue Torch Credit Facility.
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Proceeds From Loan |
$ 70,000
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GPO Warrant [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Outstanding | shares |
198,675
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Warrant [Member] | Introducing Fee [Member] |
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Debt Instrument [Line Items] |
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Deferred finance costs gross |
$ 600
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Common Stock Warrant [Member] | Blue Torch Term Loan Facility [Member] |
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Debt Instrument [Line Items] |
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Class of Warrant or Right, Outstanding | shares |
3,496,205
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Warrants for common stock issued |
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3,579
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Exchange price | $ / shares |
$ 2.01
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Exact Earth Acquisition [Member] |
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Debt Instrument [Line Items] |
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Long-term debt |
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4,857
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4,464
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FP Term Loan [Member] |
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Debt Instrument [Line Items] |
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Gain (Loss) on extinguishment of Debt |
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4,954
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Long-term Debt, Gross |
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0
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71,512
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FP Term Loan [Member] | Credit Agreement With Fp Credit Partners Lp [Member] |
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Debt Instrument [Line Items] |
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Debt Instrument, Face Amount |
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$ 70,000
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Outstanding Principal Amount |
$ 72,835
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Debt instrument covenant minimum unrestricted cash to be maintained |
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15,000
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Gain (Loss) on extinguishment of Debt |
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22,510
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Paycheck Protection Program [Member] |
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Debt Instrument [Line Items] |
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Gain (Loss) on extinguishment of Debt |
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$ 1,699
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Line of Credit [Member] |
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Debt Instrument [Line Items] |
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Line of credit facility, maximum borrowing capacity |
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$ 5,701
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Line of Credit [Member] | Blue Torch Term Loan Facility [Member] |
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Debt Instrument [Line Items] |
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Line Of Credit Facility Description |
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The $120,000 term loan was available and drawn at closing, of which $19,735 was placed in an escrow account by Blue Torch with such amount to be released upon the Company achieving certain metrics related to annualized recurring revenue and a total annualized recurring revenue leverage ratio. These metrics were achieved and the $19,735 was released from the escrow account and delivered to the Company in February 2023 (Note 16). The term loan accrues interest at a floating rate, to be based, at the Company's election, on either a reference rate or a 3-month Term Secured Overnight Financing Rate ("SOFR") (subject to a 1.0% floor), plus an interest rate margin of 7.0% for reference rate borrowings and 8.0% for 3-month Term SOFR borrowings, plus an incremental Term SOFR margin of 0.26161%.
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Debt Instrument, Interest Rate, Stated Percentage |
2.00%
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Line of Credit [Member] | Blue Torch Term Loan Facility [Member] | SOFR |
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Debt Instrument [Line Items] |
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Debt Instrument, Interest Rate, Stated Percentage |
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12.75713%
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Line of Credit [Member] | Commitment Fee [Member] | Blue Torch Term Loan Facility [Member] |
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Debt Instrument [Line Items] |
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Deferred finance costs gross |
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$ 2,400
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Line of Credit [Member] | Agency Fee [Member] | Blue Torch Term Loan Facility [Member] |
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Debt Instrument [Line Items] |
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Deferred finance costs gross |
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250
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Line of Credit [Member] | Exit Fee [Member] | Blue Torch Term Loan Facility [Member] |
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Debt Instrument [Line Items] |
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Deferred finance costs gross |
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1,800
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Convertible Notes [Member] |
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Debt Instrument [Line Items] |
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Interest Expense, Debt |
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$ 0
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