BUZZ-Joby Aviation drops on planned $300 mln share sale

Reuters
11 Dec 2024
BUZZ-Joby Aviation drops on planned $300 mln share sale

** Joby Aviation's JOBY.N shares down 5.2% post-market to $8.10 as electric air taxi maker looks to raise additional equity

** Santa Cruz, California-based firm files up to $300 mln ATM ("at-the-market") stock sale agreement to be handled by Morgan Stanley and Allen & Co

** It plans to use net offering proceeds from any sales to fund certification/manufacturing efforts, prepare for commercial operations and for other purposes

** The Toyota Motor Corp 7203.T-backed firm in late Oct priced 40 mln share offering at $5.05 for $202 mln raise

** JOBY shares on Tues closed up 0.1% at $8.54 for roughly $6.5 bln market cap

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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