Spire Global Shares up After Satellites Launch on SpaceX Mission

Dow Jones10-02 20:42

Shares of Spire Global gained after three of its satellites built at its manufacturing facility launched on SpaceX's Transporter-18 rideshare mission on Thursday.

The company's shares rose 2.4% to $11.23 in premarket trading.

"The successful deployment of the first satellites built at our Boulder facility marks an important milestone in expanding Spire's ability to support U.S. national security missions," Chief Executive Theresa Condor said.

The satellites were part of a mission that hitched a ride along with SpaceX's Falcon 9 rocket flying from Vandenberg Space Force Base in California. There were 130 payloads on the flight, including cubesats, microsats, hosted payloads, and two spacecraft with re-entry vehicles and four orbital transfer vehicles carrying 41 of those payloads to be deployed at a later time, according to SpaceX's website.

Paired with production capabilities in the U.K. and Europe, Spire said it offers a total capacity of 300 to 400 satellites annually.

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