Keyword Analysis & Research: joby aviation stock spac

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What is Joby Aviation SPAC IPO?

Joby Aviation SPAC IPO Details. The deal gives Joby Aviation a pro forma valuation of $6.6 billion. This is at a $10 per share PIPE subscription price. When the transaction closes, the company expects up to $690 million from Reinvent Technology Partners’ trust. It expects the PIPE to total $835 million.

When will Joby Aviation merge with SPAC?

The news broke in February, but an official listing date for the combined company hasn't been publicized. Joby’s press release about the merger stated that it should be completed by the end of the second quarter of 2021. The SPAC merging with Joby Aviation, Reinvent Technology Partners, already trades publicly on the NYSE.

What happened to Joby Aviation shares?

Shares of electric aircraft maker Joby Aviation surged more than 14% in its first day of trading on the New York Stock Exchange after its SPAC merger. Founded in 2009 by CEO JoeBen Bevirt, the start-up wants to make air travel cleaner and quieter, and is offering an electric alternative to traditional planes or helicopters for short hops.

Who is Joby Aviation?

Joby Aviation has emerged as the leader in aerial ridesharing with a planned launch of commercial services by 2024. The company became publicly traded this month following a SPAC merger with an ambitious strategy backed by major partners and an impressive management team.

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