EVTOL developer Joby Aviation went public by exhibiting its prototype electric air taxi in Manhattan on August 11 to celebrate the company’s listing on the New York Stock Exchange.
Joby has a history of delivery and execution, and we’re going to take that ethic, that DNA and sue him to perform on a public stage.
JoeBen Bevirt, fondateur et PDG de Joby
The company is the first major eVTOL developer to become listed on the stock exchange thanks to the SPAC technique (A SPAC is a vehicle without its own operational activity, listed on the stock exchange to raise funds in order to finance a merger-acquisition operation with a unlisted company not yet identified during the SPAC listing). Its eVTOL rivals Archer, Lilium and Vertical Aerospace are still pending listing.
The transaction leaves Joby with $ 1.6 billion in combined proceeds and cash on his balance sheet as of March 31, which will provide the company with enough money to certify and market its five-seat air taxi.
Now, the company will have to demonstrate to the market that it can meet the ambitious goals set out in its investor documents, including the certification of its new aircraft by 2024.
“We have established a series of milestones that we will achieve in the quarters and years to come. And we will build the confidence of our new investors just as we have built the confidence of our existing investors by continuing to execute, ”Bevirt promised.
Source : evtol.com