Planet Labs Looks to Expand Software Offerings, Win New Customers With IPO Funds

Satel­lite-imag­ing com­pa­ny Plan­et Labs Inc. plans to win more cus­tomers, increase its data offer­ings and strike more acqui­si­tions after it goes pub­lic via a merg­er with a spe­cial-pur­pose acqui­si­tion com­pa­ny ear­ly next month.

The San Fran­cis­co-based com­pa­ny, which sells geospa­tial data and ana­lyt­ics soft­ware to busi­ness­es and gov­ern­ment agen­cies, will use the rough­ly $600 mil­lion it expects to raise from its pub­lic offer­ing for that, Chief Finan­cial Offi­cer Ash­ley John­son said.

Plan­et Labs plans to close on the merg­er with Las Vegas-based SPAC dMY Tech­nol­o­gy Group Inc. IV and then debut on the New York Stock Exchange under a new name, Plan­et Labs Pub­lic Ben­e­fit Corp., short­ly after a Dec. 3 share­hold­er vote on the deal. SPACs are shell com­pa­nies that issue shares to raise cap­i­tal to buy a busi­ness and bring it public.

To read the full arti­cle, please vis­it: The Wall Street Journal