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Planet Labs PBC (NYSE:PL) shares traded lower Friday morning. This follows an announcement from the satellite data provider regarding its outstanding public warrants.
Mandatory Redemption Details
The company will redeem all outstanding public warrants issued under its March 4, 2021, agreement. The redemption applies to warrants sold during the company’s Initial Public Offering (IPO). The redemption price is set at $0.01 per warrant. This takes effect for any warrants remaining on April 27.
Specific Exercise Terms
Holders can exercise warrants until the April deadline. The exercise price is $11.50 per share of Class A common stock. Unexercised warrants will become void and delisted after the cutoff.
Background on Share Performance
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