Summary by Moomoo AI
On October 24, 2024, Joby Aviation, Inc. announced the entry into an underwriting agreement with Morgan Stanley & Co. LLC and Allen & Company LLC for an underwritten public offering of 40 million shares of common stock at $5.05 per share. The underwriters were also granted a 30-day option to purchase an additional 6 million shares, which they exercised in full the following day. The transaction was completed on October 28, 2024, with the company raising approximately $221.8 million in net proceeds after deductions. These funds are intended to support Joby Aviation's certification and manufacturing efforts, preparation for commercial operations, and general corporate purposes. The offering was made under the company's shelf registration statement on Form S-3, which was filed and automatically effective on the same day as the offering announcement.
