"Joby Aviation ( ) leads in developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company is advancing toward commercial operations in 2026, with plans to carry its first passengers in Dubai and participate in the FAA's eVTOL Integration Pilot Program to test use cases nationwide. Joby has completed three of five FAA certification stages and expects to begin passenger flights in early 2026, partnering with Delta Air Lines ( ) for routes in New York and Los Angeles."
"To fund this, Joby announced concurrent offerings this morning: $600 million in convertible senior notes due 2032 and 52.86 million shares of common stock at $11.35 per share. This upsized raise totals about $1.2 billion before options, up from an initial $1 billion target. Proceeds will support certification, manufacturing expansion, commercial prep, and general purposes, bolstered by Joby's $978 million cash position at the end of the third quarter."
"Convertible senior notes are unsecured loans that investors can turn into company shares at a fixed rate. Joby's notes pay a low 0.75% interest annually, distributed twice a year starting Aug. 15, and mature on February 15, 2032. They convert at an initial rate of 70.4846 shares per $1,000 of principal, which works out to a $14.19 conversion price - a 25% premium above the $11.35 sto"
Joby is developing eVTOL aircraft for urban air mobility and targets commercial passenger flights in early 2026, including initial operations in Dubai and U.S. routes with Delta in New York and Los Angeles. The company has completed three of five FAA certification stages and will participate in the FAA's eVTOL Integration Pilot Program. Joby announced concurrent offerings totaling about $1.2 billion: $600 million of convertible senior notes due 2032 and 52.86 million common shares priced at $11.35. Proceeds will fund certification, scale manufacturing to four aircraft per month by 2027, expand facilities, and prepare commercial operations. Cash was $978 million at end of Q3.
Read at 24/7 Wall St.
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