PL News & Events

Planet Labs announced that the Company will redeem all of its outstanding public warrants to purchase shares of the Company's Class A common stock, par value $0.0001 per share, that were issued under the Warrant Agreement, dated March 4, 2021, by and between the Company and Continental Stock Transfer & Trust Company, as warrant agent, as part of the units sold in the Company's initial public offering, for a redemption price of $0.01 per Public Warrant, that remain outstanding at 5:00 p.m. New York City time on April 27. Under the terms of the Warrant Agreement, the Company is entitled to redeem all of the outstanding Public Warrants if the last sales price of the Class A common stock is at least $18.00 per share on any twenty trading days within any thirty-day trading period ending on the third trading day prior to the date on which a notice of redemption is given. At the direction of the Company, the Warrant Agent has delivered a notice of redemption to each of the registered holders of the outstanding Public Warrants. The Public Warrants may be exercised by the holders thereof until 5:00 p.m. New York City time on the Redemption Date to purchase fully paid and non-assessable shares of Class A common stock underlying such warrants, at the exercise price of $11.50 per share. Any Public Warrants that remain unexercised at 5:00 p.m. New York City time on the Redemption Date will be delisted, void and no longer exercisable, and the holders will have no rights with respect to those Public Warrants, except to receive the Redemption Price.

Stock futures are moving higher this morning. Markets are shifting toward a more conditional relief trade, but energy prices are still dictating direction. The move is tied directly to a sharp pullback in crude oil, which dropped more than 4%-5% overnight on renewed hopes for a potential ceasefire framework between the U.S. and Iran. After several sessions where rising energy prices pressured equities and pushed yields higher, the reversal is easing inflation expectations at the margin. As a result, markets are beginning to reprice the path of interest rates slightly lower, which is providing near-term support for equities and risk assets.However, the improvement in sentiment is based on tentative headlines, not confirmed changes in supply dynamics or a finalized agreement. Iran has pushed back on reports of negotiations, and oil has already shown a tendency to rebound quickly when optimism fades. Rising Treasury yields and ongoing geopolitical uncertainty continue to cap upside, particularly for rate-sensitive sectors like technology.In pre-market trading, S&P 500 futures rose 0.67%, Nasdaq futures rose 0.83% and Dow futures rose 0.68%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Armup 10% after reporting the company expects its own chips business to generate about $15B in annual sales in five years.Terns Pharmaceuticalsup 5% after entering into a definitive agreement under which Merck, through a subsidiary, will acquire Terns for $53.00 per share in cashSturm Rugerup 3% after Beretta Holding announced plans to launch a tender offer for up to 20.05% of Sturm Ruger shares at $44.80 per shareHIGHER AFTER REPORT OF ACCELERATED SPACEX IPO TIMELINE -EchoStarup 5%Rocket Labup 3%FireFly Aerospaceup 3%AST SpaceMobileup 2%Planet Labsup 2%UP AFTER EARNINGS -Brazeup 27%Chewyup 10%DOWN AFTER EARNINGS -KB Homedown 3%PDD Holdingsdown 2%Winnebagoup 1%LOWER -Anavexdown 32% after withdrawing its application for the marketing authorization of blarcamesine in the EU as an add-on therapy for the treatment of early Alzheimer's disease in adults, which had been under review by the European Medicines AgencyOn Holdingdown 4% after reporting Martin Hoffmann will step down as CEO