July 07, 2021
Planet Labs Inc. (Planet), a leading provider of daily data and insights about Earth, and dMY Technology Group, Inc. IV (NYSE: DMYQ) (dMY IV), a publicly traded special purpose acquisition company, have announced that they have entered into a definitive merger agreement under which Planet will become a publicly-traded company. Upon closing, the combined company will retain the Planet name and be listed on the NYSE under the ticker symbol “PL.” The transaction values Planet at a post-transaction equity value of approximately US$2.8 billion.
Latham & Watkins LLP represents Planet in the transaction with a corporate deal team led by Bay Area partners Josh Dubofsky and Saad Khanani, with associates Brian Umanoff, Shannon Cheng, Abby Timmons, and Peter Bassine. Advice was also provided on capital markets matters by Orange County partner Drew Capurro and Bay Area partner Phillip Stoup, with associate Raul Gonzalez; on benefits and compensation matters by Bay Area partner Julie Crisp, with associate Rachel Narowski; on tax matters by Bay Area partner Grace Lee, with associate Jake Meninga; on intellectual property matters by Bay Area partner Anthony Klein, with associates Pelin Serpin and Amy Dippolito; on data privacy matters by Bay Area counsel Robert Blamires, with associate Adriana Beach; on antitrust matters by Bay Area partner Joshua Holian and Washington, D.C. counsel Joseph Simei; on regulatory matters by Washington, D.C. partner James Barker and Washington, D.C. counsel Kyle Jefcoat; on export controls matters by Washington, D.C. partner Les Carnegie, with associate Andrew Galdes; and on litigation matters by Bay Area partner Elizabeth Deeley