Planet Labs PBC announced the redemption of all its outstanding public warrants, which were issued as part of its initial public offering, for a redemption price of $0.01 per warrant. This action is being taken because the company's Class A common stock met the price condition specified in the warrant agreement, allowing for redemption.
Key takeaways
Planet Labs will redeem all outstanding public warrants for $0.01 per warrant on April 27, 2026.
The redemption is triggered because the Class A common stock price exceeded $18.00 per share for 20 trading days within a 30-day period ending March 24, 2026.
Warrant holders can exercise their warrants to purchase Class A common stock at $11.50 per share until 5:00 p.m. New York City time on April 27, 2026.
The public warrants are listed on the New York Stock Exchange under the symbol 'PL WS'.
On March 26, 2026, the closing price of the public warrants was $20.86 and the closing price of the Class A common stock was $32.40.
The warrant agent is Continental Stock Transfer & Trust Company, located at 1 State Street, 30th Floor, New York, New York 10004.