Joby Aviation (JOBY) Launches $200M Public Offering of Common Stock

Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, announced today that it has launched an underwritten public offering to sell up to $200.0 million of its shares of common stock. All of the shares of common stock are being offered by Joby. In addition, Joby intends to grant the underwriters a 30-day option to purchase up to an additional $30.0 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 and Allen & Company LLC are acting as joint book-running managers for the proposed offering.

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