DMYQ Stock – dMY Technology Group, Inc. IV
dMY Technology Group, Inc. IV (NYSE – DMYQ Stock), was incorporated in the state of Delaware. The Firm was founded primarily in the business of radio & tv broadcasting & communications equipment. However, the Technology Group morphed into a special purpose acquisition company (SPAC). The company’s new focus was to enter into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more companies. Essentially, dMY Technology Group, Inc. IV became a blank check company. It’s Class A common stock, units, and warrants traded on the NYSE under the ticker symbols DMYQ, DMYQ.U, and DMYQ WS, respectively.
Subsequently, shareholders of the special purpose acquisition company, dMY Technology Group voted in December 2021. They agreed to accept the merger of the two firms, dMY Technology Group with Planet Labs. The merged entity would be known as Planet Labs PBC. DMYQ Stock would become PL Stock and trade on the New York Stock Exchange as of December 08, 2021.
dMY Technology Group, Inc. IV (DMYQ Stock) Merges with Planet Labs (NYSE PL Stock)
Planet Labs was founded by three former NASA scientists. The start-up generated $100 million in income in fiscal 2021 through its subscription business. Planet Labs serves over 700 customers in the civil government, defense, agriculture, and sustainability sectors. The satellite imagery provider completed its pending merger with dMY Technology Group (NYSE: DMYQ) on Tuesday, December 07, 2021. The company received post-closure proceeds of approximately $590 million.
Shareholders at the special purpose acquisition company, dMY Technology Group, voted to approve the combination of the two companies. They will subsequently do business as Planet Labs PBC. The company trades under the symbol “PL” on the New York Stock Exchange as of December 08, 2021.
Planet Labs Inc. (“Planet”), a leading provider of daily data and insights about Earth, today announced the completion of its previously announced business combination (the “Business Combination”) with dMY Technology Group, Inc. IV, a publicly traded special purpose acquisition company (formerly NYSE: DMYQ) (“dMY IV”). The combined company has been renamed Planet Labs PBC and its shares and warrants will commence trading tomorrow, December 8th, 2021, on the New York Stock Exchange under the new ticker symbol “PL”. (Source: businesswire.com)
DMYQ Stock Now Trades as PL Stock
- Dilution – PL stock shares have been substantially diluted in the past year
- Financial data – PL is currently unprofitable and not forecast to become profitable over the next 3 years.
- Dividends – They do not pay a dividend
DMYQ Stock – dMY Technology Group, Inc. IV Investor Relations
dMY Technology Group, Inc. IV traded on the NYSE using the DMYQ Stock ticker symbol. The online portal continues to provide basic information to investors and former shareholders.
DMYQ Stock – SEC Filings
dMY Technology Group, Inc. IV was incorporated in the state of Delaware. dMY Technology Group, Inc. It was incorporated primarily in the business of radio & tv broadcasting & communications equipment. However, the company morphed into a special purpose acquisition company (SPAC). For financial reporting, their fiscal year ends on December 31st. This page includes all SEC registration details as well as a list of all documents (S-1, Prospectus, Current Reports, 8-K, 10K, Annual Reports) filed by dMY Technology Group, Inc. IV.
What is a SPAC?
A SPAC or special purpose acquisition company is a publicly-traded, cash-rich shell company. Its sole purpose is to find a suitable private company and take it public through a merger or acquisition. As a result, the private company can be publicly traded but avoids much of the initial public offering (IPO) hassle and expense. A SPAC stock refers to the common shares of a SPAC shell company traded before a merger takes place. A special purpose acquisition company (SPAC) has no other commercial operations. It is founded for the purpose of raising cash through an initial public offering (IPO) and is devoted to either acquiring or merging with another firm. SPACs, are often known as blank check firms. They have existed for decades, but their popularity has skyrocketed in recent years. (Source: daytradrr.com)
Planet Labs Investor Relations
Planet Labs PBC results from a merger with the SPAC formerly known as dMY Technology Group, Inc. IV. The merged entity is a global provider of daily satellite imagery and GIS solutions. Planet Labs designs, constructs, and runs an imaging satellite fleet that captures and compiles data from over three million photos every day. The company’s automated, cloud-native technology processes, catalogs, and extracts information from data.
Planet’s proprietary platform integrates imagery, insights, and machine learning. It aids businesses, governments, and communities all across the world to make informed decisions about the changing world. Platform offerings include Planet Application Programming Interfaces (APIs), Planet Applications, Planet Basemaps, Planet Fusion, and Planet Analytics Feeds. Also, the company provides mission-critical data, advanced insights, and software solutions allowing customers customized satellite imagery. Their customer base includes agribusiness, forestry, intelligence, education, and finance firms, as well as government agencies,
- Planet Labs Corporate WebSite – planet.com
- Planet Labs Investor Relations – investors.planet.com
- Financials & Quarterly Results – investors.planet.com/financials
- Planet Labs SEC Filings – investors.planet.com/financials/sec-filings
- Planet Labs News & Events – investors.planet.com/news
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