** Shares of satellite imagery co Planet Labs PL.N down 11% post-market to $8.60 as it looks to raise capital

** San Francisco-based firm announces private offering of $300 mln 5-yr convertible bonds $(CB)$

** Co plans to use net offering proceeds for general purposes

** It also intends to use portion of proceeds to pay cost of capped calls, derivative transactions employed to help offset dilution

** PL shares on Mon soared 47.9% to close at $9.66 after it posted Q2 rev beat and said its backlog increased by 245% y/y, providing strong future topline visibility

** Co has nearly $3 bln current market cap

** Through Mon close, shares up 139% YTD

** 7 of 9 analysts rate PL "strong buy" or "buy", 2 rate "hold" and median PT is $8, LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))