Latham & Watkins Advises Joby Aviation in Public Offering of Common Stock

Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, announced the pricing of its underwritten public offering of common stock. Joby is selling 40,000,000 shares of common stock in the offering. The shares of common stock are being sold at a public offering price of US$5.05 per share. All shares of common stock are being offered by Joby. In addition, Joby has granted the underwriters a 30-day option to purchase up to an additional 6,000,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering are expected to be US$202 million, before deducting underwriting discounts and commissions and other offering expenses payable by Joby and assuming no exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on October 28, 2024, subject to satisfaction of customary closing conditions.

Latham & Watkins LLP advised Joby Aviation in the offering with a capital markets team led by partners Ross McAloon, Drew Capurro, and Tad Freese, with associates Jake Walsh, Chelsi DeTurk, and Lexi Zintel.