Gross proceeds of $1.6 billion for Joby Aviation are expected to fund the company's commercial operations. From what I understand, these are the same planes that EXPC (Blade( is planning on using. Joby Aviation announced that it has entered into a definitive business combination agreement with Reinvent Technology Partners (RTP) (NYSE:RTP), a special purpose acquisition company (SPAC), that will take the eVTOL manufacturer public at $6.6bn post money. A Joby Aviation SPAC merger promises to play into several emerging trends. Joby Aviation. The SPAC's stock shot up by about 50% after that deal was announced. Related Link: Mark Pincus, Reid Hoffman Launch Third SPAC: What You Need To Know. A deal would value the company $5.7 billion, the news outlet said, citing people familiar with the discussions. Germany’s Volocopter and … Joby Aviation is vertically integrated, with manufacturing and operational controls in place. Joby Aviation is a company that produces electric-air-taxis. Joby eVTOL SPAC Deal. Joby Aviation, considered a leading eVTOL aircraft developer, is reported to be merging with a blank-check company to go public at a $5.7 billion valuation. Twitter. A Joby Aviation special purpose acquisition company (SPAC) merger is reportedly in the works with the blank-check company Reinvent Technology Partners (NYSE:RTP) and … Joby Aviation is a company currently developing an eVTOL, essentially a flying car and other flying modes of transportation. Joby has been working on all-electric, zero-emissions vertical aircraft since it was founded in 2009. Joby was valued at $2.6 billion last year, according to PitchBook data, and is reportedly seeking a valuation of about $5 billion in the potential SPAC … Joby Aviation, Archer Aviation and Blade Urban Air Mobility have all announced SPAC mergers in recent weeks, or reportedly will do so soon . © 2021 Insider Inc. and finanzen.net GmbH (Imprint). All rights reserved. Disclaimer | The deal values the company at a post money valuation of $6.6 billion. The company is forecasting revenue of $131 million in fiscal 2024 with a presence in one city. Joby Aviation takes flight into the public markets via a SPAC merger. Joby said it will work alongside Uber to partner on a U.S. launch. It will also include $690 million in proceeds from a combination of cash held in trust by RTP and a private investment in public equity (PIPE). The … is nearing a deal to merge with flying taxi developer Joby Aviation. In the next 10 years, Joby Aviation plans on having over 14,000 vehicles, $20 billion in revenue and flights offered in 20 cities worldwide. Wednesday February 24, 2021. Joby's Growth Forecast: In January 2021, Joby Aviation purchased Uber Elevate, the eVTOL segment from Uber Technologies. Joby Aviation Inc. on Wednesday became the second Bay Area air taxi startup to announce plans to go public in a major "blank check" merger. WhatsApp. Pinterest. received airworthiness approval from the U.S. Air Force, agreed upon a certification basis for its aircraft with the Federal Aviation Administration, strategic investor and partner Toyota Motor Group, video released by Joby announcing the deal, known to be a vocal proponent of safe autonomous mobility. Stock quotes by finanzen.net. At Joby Aviation, we're making that possible with our pioneering electric aircraft. Joby Aviation is close to a deal to go public via a merger with blank-check company Reinvent Technology Partners (NYSE: RTP) in a deal that will value the eVTOL developer at $5.7 billion, according to the Financial Times. Urban air mobility company Joby Aviation is the latest company in the growing industry going public via a SPAC. Commerce Policy | Facebook. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. The company is targeting high urban traffic areas with flights that would cost the same amount as a ground-based taxi. The deal will value the combined enterprise at roughly $6.6 billion. RTP Price Action: Shares of Reinvent Technology Partners closed Wednesday's session up 4.02% at $13.46. The SPAC Deal: Joby Aviation is going public with Reinvent Technology Partners (NYSE:RTP), a SPAC led by Reid Hoffman and Mark Pincus. The combined company, which will be listed on the […] Google+. Joby Aviation takes flight into the public markets via a SPAC merger. Prior to its SPAC deal, Joby had gained attention and investors over the years as it developed its eVTOL. Made In NYC | Electric-Air-Taxi Firm Joby to Go Public Via Reinvent SPAC. Urban air mobility company Joby Aviation is the latest company in the growing industry going public via a SPAC. Toyota Glory 2021 Phase I Retail Auto Loan Credit Asset-backed Securities -- Moody's assigns provisional ratings to Toyota Motor Finance (China) Co., Ltd. auto loan ABS in China: Toyota Glory 2021... Electric Vehicle 2020 U.S. share peaks to record levels: IHS Markit. WhatsApp. Joby Aviation, an electric aviation startup, is going public via a reverse merger with a SPAC. 1. Joby Aviation has spent more than a decade creating a fleet of piloted, all-electric, vertical takeoff and landing passenger aircraft. Powered by six electric motors, our aircraft takes off and lands vertically, giving us the flexibility to serve almost any community. Every new day or so brings new SPAC mergers and today's new merger happens to be Joby Aviation, a maker of electric vertical takeoff and landing (eVTOL) passenger aircraft, a.k.a air taxis.Joby has announced an agreement to merge with Reinvent Technology Partners (NYSE:RTP), a SPAC formed by a group including LinkedIn founder Reid Hoffman and Zynga founder Mark Pincus. Twitter. The deal values the company at a post money valuation of $6.6 billion. PO Box 122 Syosset, NY 11791 (516) 876-8006 team@dealflow.com Joby Aviation is a California headquartered transportation company developing an all-electric vertical takeoff and landing aircraft which it intends to operate as a fast, quiet, and affordable air taxi service beginning in 2024. And in … The SPAC merger between Reinvent Technology and Joby Aviation implies a market capitalization of $6.6 billion for the combined company. 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