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Planet, which operates a network of around 200 satellites that provides Earth imaging, as well as analytics of the data derived from that observation, is going public in a merger with special purpose acquisition company (SPAC) dMY Technology Group IV. The deal has a post-transaction equity value of $2.8 billion, and will provide Planet with $545 million in cash balance at close, including $345 million from dMY IV’s contribution, and a $200 million PIPE provided by BlackRock-managed funds, Koch Strategic Platforms, Marc Benioff’s TIME Ventures and Google.
