Planet Labs PBC (NYSE:PL) shares dropped in Monday’s after-hours trading after the company announced a private offering of $300 million convertible senior notes due 2023.
PL stock is challenging resistance. Check the fundamentals here.
The Details: Planet said it also expects to grant the initial purchasers of the notes an option to purchase up to an additional $45 million aggregate principal amount of the notes solely to cover over-allotments.
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The company plans to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions related to the offering and the remainder of the net proceeds from the offering for general corporate purposes.
Planet Labs stock closed Monday’s regular trading session up 47.59% after the company announced better-than-expected second quarter financial results and raised its fiscal 2026 revenue guidance.
PL Stock Price: Planet Labs shares were trading 10.56% lower at $8.64 in Monday's extended trading.
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