The 0.50% convertible senior notes are due 2030

Davis Polk advised Barclays Capital Inc. and Goldman Sachs & Co. LLC as representatives of the several initial purchasers in connection with a Rule 144A offering by Planet Labs PBC of $460 million aggregate principal amount of its 0.50% convertible senior notes due 2030. The notes included $60 million principal amount of notes pursuant to the exercise in full of the initial purchasers’ over-allotment option to purchase additional notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into in connection with the offering.

Planet Labs PBC was founded to design, construct and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers via an online platform. The company’s mission is to use space to help life on Earth, by imaging the world every day and making global change visible, accessible and actionable.

The Davis Polk corporate team included partners Alan F. Denenberg and Beth LeBow and associates Sunny Xu and Hannah R. Carter. The equity derivatives team included partner Mark M. Mendez, counsel Justin Michael and associate Ji Hwan Kim. The tax team included partner Lucy W. Farr and associate Bryce Maxey. Members of the Davis Polk team are based in the Northern California and New York offices.

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