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.

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