---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-034840"
form_type: "8-K"
ticker: "PL"
cik: "0001836833"
company_name: "Planet Labs PBC"
filed_at: "2025-09-12T23:59:59+00:00"
generated_at: "2026-05-17T06:45:59.227367+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Planet Labs issues $460M convertible notes at 0.50% due 2030, conversion price $11.95

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-25-034840
- form_type: 8-K
- ticker: PL
- cik: 0001836833
- company_name: Planet Labs PBC
- filed_at: 2025-09-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1836833/000114036125034840/0001140361-25-034840-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1836833/000114036125034840/ef20055521_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-034840
- JSON: https://secwatch.observer/filing/0001140361-25-034840.json
- Plain text: https://secwatch.observer/filing/0001140361-25-034840.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1836833/000114036125034840/0001140361-25-034840-index.htm
- Equity Issuances
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1836833/000114036125034840/0001140361-25-034840-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.