Joby Aviation announces $200M common stock offering

Joby Aviation (JOBY) announced that it has launched an underwritten public offering to sell up to $200M of its shares of common stock. All of the shares of common stock are being offered by Joby. 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 are acting as joint book-running managers for the proposed offering.