Joby Aviation, Inc. , a company developing electric air taxis for commercial passenger service, announced today that it intends to offer $500.0 million of its shares of common stock in an underwritten offering.
All of the shares of common stock are being offered by Joby. In addition, Joby expects to grant the underwriter a 30-day option to purchase up to an additional $75.0 million of its shares of common stock.
Joby currently intends to use the net proceeds that it will receive from the offering, together with existing cash, cash equivalents and short-term investments, to fund its certification and manufacturing efforts, prepare for commercial operations and for general working capital and other general corporate purposes.
The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering.
Morgan Stanley is acting as book-running manager for the proposed offering.
A registration statement on Form S-3 relating to the shares to be sold in the proposed offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) on October 24, 2024 and became automatically effective upon filing.
This offering will be made only by means of a prospectus. A copy of the preliminary prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov.
Alternatively, a copy of the preliminary prospectus supplement and the accompanying prospectus relating to this offering, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.