Joby Announces “USD200 Million Public Stock Offering, Shares Priced at USD5.05” 

eVTOL com­pa­ny, Joby Avi­a­tion, has announced a pub­lic offer­ing of com­mon stock priced at USD5.05 per share with expect­ed pro­ceeds sur­pass­ing USD200 mil­lion, reports a press release.

The com­pa­ny aims to use this lat­est financ­ing to fund, “(Its) cer­ti­fi­ca­tion and man­u­fac­tur­ing efforts; pre­pare for com­mer­cial oper­a­tions; and for gen­er­al work­ing cap­i­tal as well as oth­er gen­er­al cor­po­rate pur­pos­es,” explains the release.

It con­tin­ues, “In addi­tion, Joby intends to grant the under­writ­ers a 30-day option to pur­chase up to an addi­tion­al USD30 mil­lion of its shares of com­mon stock.”

The new fund­ing fol­lows a USD500 mil­lion recent invest­ment by Toy­ota, which has now invest­ed a total of USD894 mil­lion. The lat­est sum is sched­uled in two parts, one lat­er this year and the sec­ond dur­ing 2025. The Toy­ota financ­ing includes plans to estab­lish a man­u­fac­tur­ing alliance for the first phase of com­mer­cial­i­sa­tion.

The Japan­ese automak­er has been invest­ing in Joby since 2019, start­ing with Toy­ota Ven­tures, and today the car company’s engi­neers work side-by-side with Joby staff in Cal­i­for­nia, in addi­tion to shar­ing knowl­edge of the Toy­ota sys­tems for plan­ning, man­u­fac­tur­ing meth­ods and tool­ing design. 

Mean­while, Joby’s pub­lic stock offer­ing fol­lows the sad news that fly­ing taxi com­pa­ny, Lil­i­um, has announced its prin­ci­pal Ger­man sub­sidiaries will apply for self-admin­is­tra­tion pro­ceed­ings in the com­ing days with the country’s com­pe­tent court.

As report­ed by evtolinsights.com last week, this fol­lowed after a lengthy and com­plex gov­ern­ment approval process for a USD50 mil­lion loan to be matched by the Bavar­i­an Gov­ern­ment was unsuc­cess­ful, as the Ger­man Government’s Bud­get Com­mit­tee failed to agree on terms. Lil­i­um was left with no alter­na­tive, but to file for self-admin­is­tra­tion.

Lil­i­um Board approves appli­ca­tion for self-admin­is­tra­tion of Ger­man sub­sidiaries Lil­i­um GmbH and Lil­i­um eAir­craft GmbH

For more infor­ma­tion

https://www.jobyaviation.com

(Top image: Joby Avi­a­tion)

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