Joby Aviation Prices $202M Public Offering Of 40M Common Stock At $5.05/Share
Portfolio Pulse from Benzinga Newsdesk
Joby Aviation has announced a public offering of 40 million common stock at $5.05 per share, aiming to raise $202 million. The proceeds will be used for certification, manufacturing, and preparation for commercial operations. The offering is expected to close on October 28, 2024.
October 25, 2024 | 4:51 am
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Joby Aviation is conducting a public offering of 40 million shares at $5.05 each, raising $202 million to fund its certification, manufacturing, and commercial operations.
The public offering may lead to short-term downward pressure on Joby Aviation's stock price due to dilution concerns. However, the funds raised will support long-term growth initiatives.
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