Planet Lab Stock Drops After Hours: Here's Why

Core Viewpoint - Planet Labs PBC announced a private offering of $300 million convertible senior notes due 2023, leading to a drop in its stock price during after-hours trading [1][3]. Group 1: Financial Offering Details - The company plans to grant initial purchasers an option to buy an additional $45 million in notes to cover over-allotments [1]. - A portion of the net proceeds will be used to pay for capped call transactions related to the offering, with the remainder allocated for general corporate purposes [2]. Group 2: Stock Performance - Planet Labs stock closed the regular trading session up 47.59% after reporting better-than-expected second quarter financial results and raising its fiscal 2026 revenue guidance [2]. - In after-hours trading, the stock was down 10.56%, trading at $8.64 [3].