ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

As previously announced in a Form 8-K filed on September 9, 2009 (the "September 9 Form 8-K"), on September 4, 2009, Spire Corporation (the "Company"), Spire Biomedical, Inc., a wholly owned subsidiary of the Company ("Seller," and together with the Company, "Spire"), and Bard Access Systems, Inc. ("Bard"), entered into an Asset Purchase Agreement (the "Purchase Agreement") pursuant to which Bard has agreed to (i) acquire substantially all of the assets of Spire's hemodialysis catheter business and (ii) assume and pay post-closing liabilities related to the purchased assets as set forth in the Purchase Agreement (collectively, the "Transaction").

As disclosed in the September 9 Form 8-K, under the original terms of the Purchase Agreement, such agreement could have been terminated by either Spire or Bard if the closing had not occurred by September 30, 2009. On September 25, 2009, Spire and Bard entered into a letter agreement extending such outside closing date from September 30, 2009 to October 31, 2009.

A more complete description of the terms of the Purchase Agreement and the Transaction may be found in the September 9 Form 8-K, which is incorporated herein by reference.

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This Current Report on Form 8-K may contain forward-looking statements within the meaning of the federal securities laws. These statements reflect the Company's current views with respect to future events and are based on its management's current assumptions and information currently available. Actual results may differ materially due to numerous factors including, without limitation, the ability of the Spire and Bard to satisfy the conditions to the proposed transaction; risks associated with market and economic conditions; the risks and uncertainties described in the Company's annual report on Form 10-K for the year ended December 31, 2008; and other factors identified from time to time in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements contained herein.