Planet Labs Eliminates IPO Warrant Overhang

By Ahmed Jamerson • Monday, May 04 19:07 • Permanent Link

Planet Labs said it has finished redeeming its public warrants, eliminating the entire outstanding warrant overhang tied to its 2021 IPO.

Of the 9,162,223 public warrants outstanding as of March 27, 2026, 9,090,913 were exercised for cash at $11.50 a share. That means 99.2% of the warrants were converted, generating $104.5 million in gross cash proceeds for the company.

The remaining 71,310 warrants were redeemed at $0.01 each, for a total payout of $713. After the redemption date, Planet reported 332,899,400 shares of Class A common stock outstanding and 23,493,796 shares of Class B common stock outstanding, with no public warrants left outstanding.

The warrants stopped trading on the New York Stock Exchange before market open on April 27, 2026, and were delisted at that time. The Class A shares continue to trade under the ticker PL. As a result of these announcements, the company's shares have moved 4.44% on the market, and are now trading at a price of $38.54. Check out the company's full 8-K submission here.

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