Planet Labs PBC entered into an Equity Distribution Agreement to sell, from time to time, up to $1.5 billion of its Class A common stock through an "at-the-market" (ATM) offering program. This agreement provides the company with a flexible method to raise capital by selling shares at prevailing market prices.
Key Details
- Offering Size: The company may offer and sell shares of its Class A common stock with an aggregate offering price of up to $1,500,000,000.
- Sales Agents & Structure: The offering will be managed by a syndicate of sales agents, including Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and others. The company will pay the sales agents a commission not to exceed 2% of the sales price per share.
- Forward Sale Provision: The agreement includes provisions for the company to enter into forward sale agreements, which allows for delayed settlement and provides flexibility in managing the timing of share sales and receipt of proceeds.
- Agreement Date: The Equity Distribution Agreement was entered into on June 5, 2026.