UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

~~WASHINGTON~~Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) ~~of the Securities Exchange Act of 1934~~

~~Date~~ of ~~Report~~The ~~(Date~~Securities ofExchange ~~earliest~~Act ~~event~~of ~~reported): September 5, 2025~~1934

September 8, 2025

Date of Report (Date of earliest event reported)

Planet Labs PBC

(Exact name of registrant as specified in its charter)

Delaware

001-40166

85-4299396

~~001-40166~~

~~85-4299396~~

(State or other jurisdictionof incorporation)

(CommissionFile Number)

(IRS EmployerIdentification No.)

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

645 Harrison Street, Floor 4San Francisco, California						94107
(Address of principal executive offices)						(Zip Code)

645 Harrison Street, Floor 4

~~Registrant’s~~San ~~Telephone Number~~Francisco, ~~Including~~California ~~Area Code: (415) 829-3313~~94107

~~N/A~~(Address of principal executive offices, including zip code)

(~~Former Name or Former Address, if changed since last report.~~415) 829-3313

~~Check~~(Registrant’s ~~the~~telephone ~~appropriate~~number, ~~box~~including ~~below~~area ~~if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:~~code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class

TradingSymbol(s)

Name of each exchangeon which registered

Class A common stock, $0.0001 par value per share

New York Stock Exchange

Warrants, each warrant exercisable for one share of common stock, each at an exercise price of $11.50 per share

PLWS

New York Stock Exchange

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Title of each class:	Trading Symbol:	Name of each exchange on which registered:
Class A Common Stock, par value $0.0001 per share	PL	NYSE
Warrants to purchase Class A Common Stock, at an exercise price of $11.50 per share	PL WS	NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

☐Item 1.01 Entry into a Material Definitive Agreement.

~~Item~~Convertible ~~5.02 Departure~~Notes ofand ~~Directors~~the ~~or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.~~Indenture

On September 512, 2025, ~~stockholders of~~ Planet Labs PBC (the “Company”) ~~acted~~issued by$460 ~~written~~million ~~consent~~in ~~(the~~aggregate ~~“Written~~principal ~~Consent”)~~amount ~~to elect Scott Reese to a newly created seat on the Company’s board~~ of ~~directors~~its as a Class II director, to serve until the Company’s 2026 annual meeting of stockholders and until his successor shall have been duly elected and qualified or until his earlier death, resignation or removal (the “Election”)0.50% InConvertible ~~accordance~~Senior ~~with~~Notes ~~Rule~~due ~~14c-2~~2030 ~~and Rule 14a-16 promulgated under the Securities Exchange Act of 1934, as amended~~ (the “~~Exchange Act~~Notes”), pursuant ~~the Election will become effective on the 40th calendar day after the Notice of Internet Availability of Information Statement with respect~~ to ~~the~~an ~~Election~~indenture ~~is first sent to the Company’s stockholders~~ (the “~~Effective Date~~Indenture”)., ~~Following~~dated ~~the~~September ~~Effective~~12, ~~Date~~2025, ~~Scott~~between ~~Reese will serve on~~ the ~~audit~~Company ~~committee~~and ~~of the Board~~U.S. ~~The~~Bank ~~Written~~Trust ~~Consent was delivered in respect of 21~~Company,~~157,586~~ ~~shares~~National ~~of the Company’s Class B common stock~~Association, ~~representing~~as ~~approximately 60% of the voting power of the outstanding shares of voting stock of the Company entitled to vote at an election of directors~~trustee.

~~Scott~~The ~~Reese~~Notes ~~has~~will ~~served~~bear asinterest ~~Chief~~from ~~Executive~~September ~~Officer~~12, of2025 ~~the~~at ~~Electrification~~a ~~Software~~rate ~~business~~ of ~~GE Vernova, Inc~~0.50% ~~(NYSE:~~per ~~GEV)~~annum, anpayable ~~energy~~semiannually ~~equipment manufacturing and services company spun off from General Electric Company~~ in ~~2024,~~arrears ~~since~~on ~~February~~April ~~2022.~~15 ~~Prior to joining GE Vernova, from March 2003 to January 2022, Mr. Reese served in a variety of senior~~ and ~~executive~~October ~~roles~~15 ~~at Autodesk where his last role was Executive Vice President~~ of ~~Product~~each ~~Development and Manufacturing Solutions. From May 2019 to June 2024~~year, ~~Mr.~~beginning ~~Reese served~~ on April ~~the board of directors of Model N~~15, ~~Inc~~2026., aThe ~~revenue~~Notes ~~management~~may ~~software~~bear ~~company.~~additional ~~Mr.~~interest ~~Reese~~under ~~holds~~specified ancircumstances ~~MBA~~relating ~~and~~to athe BSCompany’s infailure ~~Computer~~to ~~Information~~comply ~~Systems~~with ~~from~~its ~~Indiana~~reporting ~~Wesleyan~~obligations ~~University.~~under Wethe ~~believe Mr~~Indenture. ~~Reese~~The isNotes ~~qualified~~will tomature ~~serve~~on asOctober a15, ~~member of our board of directors due to his extensive experience in software~~2030, ~~product~~unless ~~development,~~earlier ~~strategy~~converted, redeemed ~~design,~~or ~~and~~repurchased ~~data~~pursuant ~~and~~to ~~process~~their ~~management~~terms.

~~There~~The ~~are~~initial noconversion ~~arrangements~~rate orof ~~understandings~~the ~~between~~Notes Mris 83.6715 ~~Reese~~shares ~~and~~of ~~any~~the ~~other~~Company’s ~~persons~~Class ~~pursuant~~A tocommon ~~which~~stock, Mrpar value $0.0001 ~~Reese~~per ~~was~~share ~~selected~~(“Common asStock”), aper ~~director~~$1,000 principal amount of ~~the~~Notes ~~Company.~~(which ~~There~~is ~~are~~equivalent noto ~~transactions~~an ~~between~~initial Mrconversion price of approximately $11.95 ~~Reese~~per ~~and~~share). ~~the~~The ~~Company~~conversion ~~that~~rate ~~would~~will be ~~required~~subject to adjustment upon the occurrence of certain specified events but will not be ~~reported~~adjusted ~~under~~for ~~Item~~any ~~404(~~accrued and unpaid interest. In addition, upon the occurrence of a make-whole fundamental change (as defined in the Indenture) or delivery of ~~Regulation~~a ~~S-K~~notice of redemption, the Company will, under certain circumstances, increase the ~~Securities~~conversion ~~Act~~rate by a number of ~~1933~~additional shares for Notes converted in connection with such make-whole fundamental change or (x) Notes called (or deemed called) for redemption or (y) all Notes, if the Company makes an “all notes election” (as ~~amended.~~defined in the Indenture), irrespective of whether they are called (or deemed called) for redemption that are converted, in each case, in connection with such notice of redemption.

~~Mr.~~Prior ~~Reese~~to the close of business on the business day immediately preceding July 15, 2030, the Notes will be ~~entitled~~convertible toonly under the ~~normal~~following ~~fees~~conditions: ~~paid~~(1) toduring any fiscal quarter commencing after the ~~Company’s~~fiscal ~~non-management~~quarter ~~directors~~ending on January 31, 2026, and only during such fiscal quarter, if the last reported sale price of the Common Stock for ~~service~~at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the ~~Company’s~~last ~~board~~trading day of ~~directors~~the ~~pursuant~~immediately preceding fiscal quarter is greater than or equal to 130% of the ~~terms~~conversion ofprice on each applicable trading day; (2) during the ~~Company’s~~five ~~Outside~~business-day ~~Director~~period ~~Compensation~~after any ~~Policy,~~five ~~substantially~~consecutive trading-day period in which the trading price (as ~~described~~defined in the ~~preliminary~~Indenture) ~~information~~per ~~statement~~$1,000 principal amount of Notes for each trading day of such five consecutive trading-day period was less than 98% of the product of the last reported sale price of the Common Stock and the conversion rate on ~~Schedule~~each ~~14C~~such ~~filed~~trading byday; (3) if the Company issues a notice of redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the ~~Securities~~Notes ~~and~~called ~~Exchange~~(or ~~Commission~~deemed oncalled) ~~September~~for 5redemption, ~~2025.~~unless ~~The~~the Company ~~will~~makes ~~also~~an ~~enter~~“all ~~into~~notes anelection”; ~~indemnification~~or ~~agreement~~(4) ~~with~~upon Mrthe occurrence of specified corporate events. ~~Reese~~On or after July 15, 2030, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the Notes may convert all or any portion of their Notes at any time, in integral multiples of $1,000 principal amount, at the ~~same~~option ~~form~~of ~~that~~the holder regardless of the foregoing conditions. Upon conversion, the Company ~~has~~will ~~entered~~pay ~~into~~or ~~with~~deliver, ~~other~~as ~~non-management~~the ~~directors~~case may be, either cash, shares of Common Stock or a combination of cash and shares of Common Stock, at the Company’s election.

~~Item~~The 5Company may not redeem the Notes prior to October 20, 2028.~~07. Submission~~ On or after October 20, 2028, the Company may redeem for cash all or any portion of ~~Matters~~the Notes (subject to certain limitations described in the Indenture), at its option, if the “liquidity condition” (as defined in the Indenture) is satisfied and the last reported sale price of the Common Stock has been at least 130% of the conversion price for the Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading-day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides a ~~Vote~~notice of ~~Security~~redemption ~~Holders~~at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus any accrued and unpaid interest to, but excluding, the redemption date. If the Company redeems less than all of the outstanding Notes, at least $100.0 million aggregate principal amount of Notes must be outstanding and not subject to redemption as of, and after giving effect to, delivery of the relevant notice of redemption (unless the Company makes an “all notes election” with respect to such partial redemption, in which case such partial redemption limitation shall not apply). No sinking fund is provided for the Notes.

~~The~~Upon ~~information~~the ~~set~~occurrence ~~forth~~of a fundamental change (as defined in ~~Item~~the ~~5.02~~Indenture) prior to the maturity date, holders may require the Company to repurchase all or a portion of ~~this~~the Notes ~~Current~~for ~~Report~~cash onat ~~Form~~a ~~8-K~~price isequal ~~incorporated~~to by100% ~~reference~~of ~~into~~the ~~this~~principal ~~Item~~amount 5of the Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date.~~07.~~

~~Item~~The ~~7.01 Regulation~~Notes FDare ~~Disclosure~~the Company’s general unsecured obligations and will rank senior in right of payment to any of the Company’s future indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment with all of the Company’s liabilities that are not so subordinated; effectively junior to any of the Company’s future secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of current or future subsidiaries of the Company.

OnThe ~~September~~following ~~10,~~events ~~2025,~~are ~~the~~considered ~~Company~~“events ~~issued~~of adefault” ~~press~~with ~~release~~respect ~~announcing~~to the ~~election~~Notes, ofwhich ~~Mr.~~may ~~Reese.~~result Ain ~~copy~~the acceleration of the ~~press~~maturity ~~release~~of isthe ~~furnished herewith as Exhibit 99.1 and incorporated herein by reference.~~ Notes:

~~The information furnished in this Item 7.01 and Exhibit 99.~~(1) ~~attached hereto shall not be deemed “filed” for purposes of Section 18 of~~ the ~~Exchange~~Company ~~Act~~defaults orin ~~otherwise subject to~~ the ~~liabilities~~payment of ~~that~~interest ~~section,~~on ~~nor shall it be deemed incorporated by reference into~~ any ~~filing~~Note ~~under~~when ~~the~~due ~~Securities~~and ~~Act~~payable ofand ~~1933, as amended, or~~ the ~~Exchange~~default ~~Act,~~continues ~~except~~for asa ~~expressly~~period ~~set~~of ~~forth~~30 ~~by specific reference in such a filing.~~days;

~~Item~~(2) ~~9.01 Financial~~the ~~Statements~~Company defaults in the payment of any principal of any Note when due and ~~Exhibits~~payable at its stated maturity, upon optional redemption, upon any required repurchase, upon declaration of acceleration or otherwise;

(d3) ~~Exhibits~~failure by the Company to comply with its obligation to convert the Notes in accordance with the Indenture upon exercise of a holder’s conversion right, and such failure continues for a period of five business days;

Exhibit Number						Exhibit Description
99.1						Press Release of Planet Labs PBC dated September 10, 2025
104						Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

(4) failure by the Company to give (i) a fundamental change notice or notice of a make-whole fundamental change in accordance with the Indenture, in either case when due and such failure continues for five business days, or (ii) notice of a specified corporate transaction in accordance with the Indenture when due and such failure continues for three business days;

(5) failure by the Company to comply with any of its obligations under the Indenture with respect to consolidation, merger, sale, conveyance, transfer and lease of assets of the Company;

(6) failure by the Company for a period of 60 days after written notice from the trustee or the holders of at least 25% in principal amount of the Notes then outstanding has been received to comply with any of its other agreements contained in the Notes or the Indenture;

(7) default by the Company or any significant subsidiary (as defined in the Indenture) with respect to any mortgage, agreement or other instrument under which there is outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed with principal amount in excess of $25.0 million (or its foreign currency equivalent) in the aggregate of the Company or any such significant subsidiary, whether such indebtedness now exists or is hereafter created (i) resulting in such indebtedness becoming or being declared due and payable prior to its stated maturity date or (ii) constituting a failure to pay the principal of any such indebtedness when due and payable (after the expiration of all applicable grace periods) at its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise, in each case, and such acceleration shall not have been rescinded or annulled or such failure to pay or default shall not have been cured or waived, or such indebtedness is not paid or discharged, as the case may be, within 45 days after written notice to the Company by the trustee or to the Company and the trustee by the holders of at least 25% in aggregate principal amount of Notes then outstanding in accordance with the Indenture; and

(8) certain events of bankruptcy, insolvency or reorganization of the Company or any significant subsidiary.

If such an event of default, other than an event of default described in clause (8) above with respect to the Company, occurs and is continuing, the trustee by written notice to the Company, or the holders of at least 25% in aggregate principal amount of the outstanding Notes by notice to the Company and the trustee, may declare 100% of the principal of and accrued and unpaid interest, if any, on all the Notes then outstanding to be due and payable. If an event of default described in clause (8) above with respect to the Company occurs, 100% of the principal of and accrued and unpaid interest, if any, on the Notes then outstanding will automatically become due and payable.

The net proceeds from the offering were approximately $445.8 million, after deducting the Initial Purchasers’ (as defined below) discounts and commissions and the Company’s estimated offering expenses related to the offering. The Company used approximately $39.6 million of the net proceeds from the offering to pay the cost of the Capped Call Transactions (as defined below). The Company intends to use the remainder of the net proceeds from the offering for general corporate purposes.

The foregoing description is qualified in its entirety by reference to the text of the Indenture and the Form of 0.50% Convertible Senior Notes due 2030, which are attached as Exhibits 4.1 and 4.2, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.

Capped Call Transactions

In connection with the offering of the Notes, on September 9, 2025, and on September 10, 2025 in connection with the Initial Purchasers’ exercise of the option to purchase Additional Notes (as defined below), the Company entered into privately negotiated capped call transactions with each of Barclays Bank PLC, through its agent Barclays Capital Inc., HSBC Bank USA, National Association, The Bank of Nova Scotia and The Toronto-Dominion Bank, through its agent TD Securities (USA) LLC (the “Capped Call Transactions”). The Capped Call Transactions cover, subject to anti-dilution adjustments, the number of shares of the Common Stock underlying the Notes sold. The Capped Call Transactions are expected generally to reduce the potential dilution to the Common Stock upon any conversion of Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be, in the event that the market price per share of the Common Stock, as measured under the terms of the Capped Call Transactions, is greater than the strike price of the Capped Call Transactions, with such reduction and/or offset subject to a cap. The Capped Call Transactions each have an initial cap price of $18.04 per share, which represents a premium of 100% over the last reported sale price of the Common Stock of $9.02 per share on September 9, 2025, and is subject to certain adjustments under the terms of the Capped Call Transactions.

The description of the Capped Call Transactions contained herein is qualified in its entirety by reference to the Form of Capped Call Confirmation attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 is incorporated herein by reference.

Item 3.02

Unregistered Sales of Equity Securities.

The information set forth under Item 1.01 is incorporated herein by reference.

On September 9, 2025, the Company entered into a purchase agreement (the “Purchase Agreement”) with Barclays Capital Inc. and Goldman Sachs & Co. LLC, as representatives of the several initial purchasers named therein (collectively, the “Initial Purchasers”), to issue and sell $400 million in aggregate principal amount of the Notes. In addition, the Company granted the Initial Purchasers an option to purchase up to an additional $60 million in aggregate principal amount of Notes on the same terms and conditions (the “Additional Notes”), solely to cover over-allotments. The Initial Purchasers notified the Company of their election to exercise their option in full on September 10, 2025.

The Purchase Agreement includes customary representations, warranties, and covenants by the Company and customary closing conditions. Under the terms of the Purchase Agreement, the Company has agreed to indemnify the Initial Purchasers against certain liabilities.

The Company offered and sold the Notes to the Initial Purchasers in reliance on the exemption from the registration requirements provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and for resale by the Initial Purchasers to persons reasonably believed to be qualified institutional buyers pursuant to the exemption from registration requirements provided by Rule 144A under the Securities Act. The Company relied on these exemptions from registration based in part on representations made by the Initial Purchasers in the Purchase Agreement. The shares of the Common Stock issuable upon conversion of the Notes, if any, have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

To the extent that any shares of the Common Stock are issued upon conversion of the Notes, they will be issued in transactions anticipated to be exempt from registration under the Securities Act by virtue of Section 3(a)(9) thereof, because no commission or other remuneration is expected to be paid in connection with conversion of the Notes and any resulting issuance of shares of the Common Stock.

Item 8.01

Other Events.

Launch Press Release

On September 8, 2025, the Company issued a press release announcing its intention to offer $300 million aggregate principal amount of convertible senior notes in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Pricing Press Release

On September 9, 2025, the Company issued a press release announcing the upsize and pricing of its offering of $400 million aggregate principal amount of the Notes in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. A copy of the press release is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description

4.1		Indenture, dated September 12, 2025, between Planet Labs PBC and U.S. Bank Trust Company, National Association.

4.2		Form of 0.50% Convertible Senior Note due 2030 (included in Exhibit 4.1).

10.1		Form of Capped Call Confirmation.

99.1		Press Release, dated September 8, 2025.

99.2		Press Release, dated September 9, 2025.
104		Cover Page Interactive Data File (formatted as inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned ~~thereunto~~hereunto duly authorized.

		Planet Labs PBC		~~Planet Labs PBC~~
Date: September 10, 2025			By:	/s/ Ashley Johnson
Dated: September 12, 2025	By:	/s/ Ashley Johnson
				Ashley JohnsonPresident and Chief Financial Officer
		Ashley Johnson
		President and Chief Financial Officer

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