Planet Labs Prices Upsized $400 Mln Offering Of 0.50% Convertible Senior Notes Due 2030

▤ Summary

Planet Labs priced an upsized $400 million private offering of 0.50% convertible senior notes due 2030. The company increased the deal from an earlier $300 million target and also granted purchasers an option for up to $60 million more in notes. Planet expects net proceeds of about $387.5 million, or about $445.8 million if the option is fully exercised. It plans to use part of the proceeds to pay for capped call transactions and the rest for general corporate purposes.

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Planet (Planet Labs PBC)

$100M to $250M