8-May-2023 Source: Joby Aviation
Joby Aviation, Inc. (NYSE: JOBY), a company developing all-electric aircraft for commercial passenger service, announced the pricing of its public offering of 43,985,681 shares of its common stock at a public offering price of $4.10 per share. All of the shares are being offered by Joby. The offering is expected to close on May 5, 2023, subject to the satisfaction of customary closing conditions.
The gross proceeds of the offering are expected to be approximately $180 million before deducting estimated offering expenses. Joby intends to use the net proceeds from this offering, together with existing cash, cash equivalents and marketable securities, to fund its certification and manufacturing efforts, prepare for commercial operations and for general working capital and other general corporate purposes. The offering is being made pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed by Joby with the Securities and Exchange Commission (SEC) and was declared effective by the SEC on October 20, 2022. A prospectus supplement relating to and describing the terms of the offering will be filed with the SEC. Copies of the prospectus supplement relating to the offering, when available, may be obtained from: Joby Aviation, Inc., Attn: Investor Relations, 333 Encinal Street, Santa Cruz, CA 95060.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.