Planet Labs (NYSE: PL) filed for a stock offering of up to $1.5 billion in Class A common stock, according to a company statement.

The satellite imaging company entered into an equity distribution agreement with multiple financial institutions to serve as sales agents for the offering. The arrangement includes Goldman Sachs, Morgan Stanley, Barclays Capital, Citigroup Global Markets, Deutsche Bank Securities, BofA Securities, and several other firms.

Under the agreement terms, Planet Labs may offer and sell shares of its common stock from time to time through the sales agents, who will act as agents or principals in the transactions. The company's common stock carries a par value of $0.0001 per share.

The filing also includes provisions for the sale of borrowed shares through forward sale agreements with designated forward sellers and purchasers as part of the equity distribution agreement.

The offering structure allows Planet Labs flexibility in timing and method of share sales, with the sales agents facilitating transactions up to the $1.5 billion aggregate offering amount.