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A set of SkySat satellites before a launch.

Planet

Satellite imagery and data specialist Planet Labs is preparing to go public, announcing on Wednesday that it will merge with a SPAC to list on the New York Stock Exchange.

Planet Labs is combining with special purpose acquisition company dMY Technology Group IV, which trades on the NYSE under ticker DMYQ. The deal gives the space company a $2.8 billion equity valuation and is expected to close in the fourth quarter, resulting in Planet listing on the NYSE under ticker PL.

“Planet is a data company … we’re a mature business and have a massive new and unique data set of our 190 satellites, the largest Earth imaging fleet ever, and more than 10 times anyone else,” Planet co-founder and CEO Will Marshall told CNBC.

Shares of DYMQ rose over 7% in premarket trading from its previous close of $9.81.

Cofounder and CEO Will Marshall

Planet

The deal is expected to raise $434 million in total for Planet, including a…

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