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Joby Aviation, Inc.

Joby JAS4-1

BAN's World Gazetteer

The monthly news publication for aviation professionals.

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Joby to list on NYSE with a lift from RTP
By taking Joby public, the company has the opportunity to drive a renaissance in aviation, making emissions-free flight a part of everyday life. According to the company's founder JoeBen Bevirt, it's a moonshot moment.

Joby Aviation, a California-based company developing all-electric aircraft for aerial ridesharing, has announced that Joby Aero has completed its previously announced business combination with Reinvent Technology Partners, a special purpose acquisition company that takes a ‘venture capital at scale’ approach to partnering with leaders and companies. Upon the completion of the transaction, RTP has changed its name to Joby Aviation, Inc. Joby's common stock and warrants will commence trading on the NYSE under the ticker symbols JOBY and JOBY WS, respectively.

“Aviation connects the world in critically important ways but today it does that at the expense of our planet,” says JoeBen Bevirt, founder and CEO at Joby. “By taking Joby public we have the opportunity to drive a renaissance in aviation, making emissions-free flight a part of everyday life. This is our generation's moonshot moment, and at Joby we're proud to be leaning in.”

Reid Hoffman, LinkedIn co-founder and co-lead director of RTP, adds: “With its advanced technology, we believe Joby is 'Tesla meets Uber in the air' and the clear leader in the eVTOL and aerial ridesharing space. We believe Joby is well-positioned with capital to be the first company to certification and commercialisation. Closing this business combination accelerates Joby's roadmap, and we look forward to supporting JoeBen and Joby's world-class team in executing on their vision.”

This transaction values Joby at $4.5 billion enterprise value, with proceeds raised plus cash on the balance sheet as of March 31, 2021 equaling approximately $1.6 billion. The proceeds are expected to fund Joby through initial commercial operations.

Other News
Joby receives $10m to support California expansion and jobs
November 20, 2023
The grant enables Joby to accelerate early manufacturing in California to support its ongoing type certification programme with the FAA, as well as for initial commercial operations and apprenticeship training.
Joby and Volocopter focus on the quality of life of New Yorkers
November 16, 2023
The mayor of New York City has hosted a public event showcasing multiple eVTOL aircraft, and announced the city's intention to electrify its heliport. Volocopter and Joby dazzled with their first, very quiet, flights.
Joby begins flight testing with pilot on board
October 5, 2023
Four Joby pilots have completed flights on board the electric air taxi at Joby’s production facility in Marina, California. Flying with pilot on board marks a critical step on the company’s journey to commercial operations.