Planet Labs PBC (PL): debt financing — Planet Labs issues $460M convertible notes at 0.50% due 2030, conversion price $11.95

Planet Labs PBC

Upsized and priced $400M (plus $60M over-allotment) 0.50% Convertible Senior Notes due Oct 2030.
Initial conversion price ~$11.95 per share, a 32.5% premium to $9.02 close on Sept 9.
Net proceeds ~$445.8M after discounts and capped call cost; ~$39.6M used for capped calls.
Capped call transactions cap price $18.04 per share to reduce dilution on conversion.
Notes are unsecured, redeemable after Oct 2028 if stock price ≥130% of conversion price.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Planet Labs PBC incurred convertible notes of $460 million with U.S. Bank Trust Company, National Association at 0.50% per annum maturing October 15, 2030.

Instrument: convertible notes
Principal: $460 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0.50% per annum
Maturity: October 15, 2030
Event: incurrence

Exact text from the filing

of the Exchange Act. ☐ Item 1.01 Entry into a Material Definitive Agreement. Convertible Notes and the Indenture On September 12, 2025, Planet Labs PBC (the “Company”) issued $460 million in aggregate principal amount of its 0.50% Convertible Senior Notes due 2030 (the “Notes”) pursuant to an indenture (the “Indenture”), dated September 12, 2025, between the

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Planet Labs PBC issued convertible note to Barclays Capital Inc. and Goldman Sachs & Co. LLC, as representatives of the several initial purchasers for $400 million in aggregate principal amount.

Security: convertible note
Purchaser: Barclays Capital Inc. and Goldman Sachs & Co. LLC, as representatives of the several initial purchasers
Consideration: $400 million in aggregate principal amount

Exact text from the filing

Capital Inc. and Goldman Sachs & Co. LLC, as representatives of the several initial purchasers named therein (collectively, the “Initial Purchasers”), to issue and sell $400 million in aggregate principal amount of the Notes. In addition, the Company granted the Initial Purchasers an option to purchase up to an additional $60 million in aggregate principal

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100 debt financings filed in the last 30 days. Browse all debt financings →

Planet Labs PBC filing history →

Source: SEC EDGAR

accession 0001140361-25-034840

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