Planet Labs PBC Closes $460 Million Upsized Offering of Convertible Senior Notes Due 2030

Reuters

Sep 13

Planet Labs PBC Closes $460 Million Upsized Offering of Convertible Senior Notes Due 2030

Planet Labs PBC has announced the closing of its private upsized offering of $460,000,000 in aggregate principal amount of 0.50% Convertible Senior Notes due 2030. The offering includes the full exercise of the option to purchase an additional $60,000,000 aggregate principal amount of notes. The notes have been structured with a 0.50% interest rate and a five-year maturity. The initial conversion price is set at approximately $11.95 per share, representing a 32.5% premium above the closing price of $9.02 per share of Planet's Class A common stock on September 9, 2025. The issuance is accompanied by capped call transactions, increasing the effective conversion price to 200% of the stock's closing price on the same date, with an adjusted conversion threshold at $18.04 per share. Planet Labs retains the option to settle note conversions in cash, stock, or a combination of both. View source version on businesswire.com.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Planet Labs PBC published the original content used to generate this news brief via Business Wire (Ref. ID: 20250912642458) on September 12, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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