Planet Labs, a provider of daily data and insights about the earth, announced that its proposed business combination with dMY Technology Group IV was approved by the SPAC’s stockholders.
Upon closing the deal, which is expected tomorrow, the transaction will result in at least $590 million in gross proceeds for merged company, including proceeds from the dMY IV trust account and a PIPE. Following the closing, Planet Labs PBC stock is expected to begin trading on the NYSE Dec. 8 under PL.
Only 2% of dMY IV shares were tendered for redemption, the SPAC said. Read more.
