Satellite data company Planet said in a news release today that it expects to complete its business combination with dMY Technology Group IV. The SPAC’s stockholders vote on the deal tomorrow.
Only 2% of dMY IV shares have been tendered for redemption, the SPAC said, adding that a minimum $589 million of gross proceeds is available to seal the deal.
If shareholders approve, upon closing the combined company will retain the Planet name and list on the NYSE under PL. The transaction values Planet at a post-transaction equity value of approximately $2.8 billion. Read more.
