Shares of Planet Labs PBC (NYSE:PL) are trading lower Tuesday morning after the company announced a proposed private offering of $300 million in convertible senior notes due 2030. The offering includes an option for purchasers to acquire an additional $45 million.
What To Know: The move to raise capital has seemingly overshadowed a stellar second-quarter earnings report released Monday. For the second-quarter, Planet posted revenue of $73.39 million, up 20% year-over-year and beating analyst estimates. The company also raised its full-year revenue guidance to a range of $281 million to $289 million, citing a record backlog and significant new contracts with NATO and the German government.
