Planet completes redemption of public warrants for $0.01 each

Planet Labs PBC (NYSE: PL) completed the redemption of its outstanding public warrants on April 27, 2026, according to a company statement. The satellite imagery provider redeemed the warrants at $0.01 per warrant.

Of the 9,162,223 public warrants outstanding as of March 27, 2026, holders exercised 9,090,913 warrants for cash at $11.50 per share, representing 99.2% of outstanding warrants. The exercises generated $104.5 million in cash proceeds for the company.

Planet redeemed the remaining 71,310 unexercised warrants for an aggregate payment of $713. The warrants were originally issued as part of units sold in the company's initial public offering under a warrant agreement dated March 4, 2021.

Following the redemption, Planet has 332,899,400 shares of Class A common stock outstanding and 23,493,796 shares of Class B common stock outstanding. No public warrants remain outstanding.

The public warrants ceased trading on the New York Stock Exchange and were delisted before market open on April 27, 2026. Planet's Class A common stock continues to trade on the NYSE under the symbol "PL."

Planet announced the redemption plan in a March 27, 2026 press release, providing warrant holders notice of the redemption terms under the warrant agreement with Continental Stock Transfer & Trust Company as warrant agent.

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