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Planet Labs Inc. (“Planet”) has completed its business combination with dMY Technology Group, Inc. IV, now trading on the NYSE under the ticker symbol PL as of
Planet Labs Inc. announced its plan to release third quarter 2022 financial results after market close on December 13, 2021. The results will cover the quarter ended October 31, 2021. A conference call to discuss these results and the company's outlook will take place at 5:00 p.m. ET. Interested parties can access the event via webcast or conference call, with pre-registration options available. Planet operates the largest fleet of imaging satellites, capturing over 3 million images daily for various industries.
Planet Labs Inc. has received overwhelming approval from stockholders of dMY Technology Group IV for its proposed merger, with approximately 99% of votes in favor. The transaction, expected to close on December 7, 2021, will yield at least $590 million in gross proceeds. Post-merger, the company will be renamed Planet Labs PBC and will begin trading on the NYSE under the ticker symbol 'PL' on December 8, 2021. The merger aims to enhance Planet's capabilities in earth data and analytics, reinforcing its commitment to public benefit and innovation.
dMY Technology Group IV, Inc. (NYSE: DMYQ) announced strong investor support with only 2% of public shares redeemed ahead of a special meeting on December 3, 2021, to approve its business combination with Planet. The merger is expected to yield a minimum of $589 million in gross proceeds, enhancing Planet’s subscription-based revenue model, which exceeded $100 million in 2021. Planet plans to use the funds to support growth initiatives and reduce debt by approximately $67 million, positioning itself towards sustainable solutions in the geospatial data sector.
Planet Labs Inc. will have CEO Will Marshall present at the 4th Annual Morgan Stanley Space Summit on December 7 at 1:30 p.m. Eastern Time in New York City. The presentation focuses on the democratization of space and its growing use cases. Founded in 2010 by NASA scientists, Planet operates the largest fleet of earth observation satellites, capturing over 3 million images daily. The company provides critical data and insights to over 700 customers, including leaders in agriculture, forestry, intelligence, and finance.
dMY Technology Group, Inc. IV (NYSE: DMYQ) has scheduled a special meeting for stockholders on
Planet has expanded its leadership team by appointing four key executives as it prepares for a public listing through its merger with dMY Technology Group (NYSE:DMYQ). New appointments include Michael Goldberg as VP of Sales Operations, Debbie Queen as VP of Sales Americas, Simon Alford as VP of Global Pre-Sales, and Leslie Mertz as Global Director of Sales Development. In FY2021A, Planet reported over $110 million in revenue and aims to enhance its sales and marketing functions with the capital raised from the merger.
Planet has announced new contracts with state and local governments in Alaska and Mississippi, enhancing environmental monitoring and regulatory enforcement through its satellite imagery services. With about 200 imaging satellites, Planet provides near-daily images, allowing for efficient tracking of environmental changes. Notably, Alaska leveraged this data to improve safety and efficiency in monitoring weather stations and mining activities. Meanwhile, the Mississippi Department of Marine Resources utilized Planet’s imagery for wetlands conservation, showcasing the practical applications of satellite data.
Planet, a leader in high-resolution Earth data, announced a partnership with New Light Technologies (NLT) to provide FEMA with enhanced satellite imagery for disaster response. This collaboration leverages Planet's near-daily monitoring capabilities to improve situational awareness during disasters like hurricanes and tornadoes, aiding in damage assessment and recovery planning. The integration of PlanetScope imagery into disaster management systems will facilitate rapid data access. Planet is also in the process of merging with dMY Technology Group IV, transitioning to a publicly traded company with a mission focused on sustainable global change.
Planet announced an expansion of its contract with the National Reconnaissance Office (NRO), enhancing access to its daily satellite data for the Department of Defense and Intelligence Community. This modification will allow monitoring in new areas and integrates Planet’s deep data archive from 2009 into the NRO's Commercial GEOINT Integration architecture. The addition of PlanetScope data will improve decision-making processes. Additionally, Planet is set to become publicly traded following a merger with dMY Technology Group (NYSE:DMYQ).
