Joby Aviation Prices Upsized $1.2 Billion Concurrent Stock and Convertible Note Offerings

summarizeSummary

This Free Writing Prospectus finalizes the terms of a substantial capital raise, following a preliminary announcement on January 28, 2026. Joby Aviation successfully priced an upsized offering of $600 million in common stock at $11.35 per share and $600 million in 0.75% convertible senior notes due 2032. The combined $1.2 billion in gross proceeds represents a significant capital infusion for Joby Aviation, crucial for advancing its electric air taxi development, certification, and preparation for commercial service. The convertible notes feature an initial conversion price of approximately $14.19 per share, representing a 25% premium over the common stock offering price, and are further protected by capped call transactions, which help mitigate potential dilution. While the common stock offering is at a slight discount to the current market price, the overall terms reflect strong institutional interest in funding the company's long-term strategic goals.

check_boxKey Events

• Upsized Capital Raise Priced

  Joby Aviation priced its concurrent public offerings, raising a total of approximately $1.2 billion from common stock and convertible senior notes, an increase from the previously announced $1.0 billion combined offering size.

• Common Stock Offering Details

  The company priced 52,863,437 shares of common stock at $11.35 per share, generating approximately $576.0 million in net proceeds (or $662.4 million if underwriters fully exercise their option).

• Convertible Senior Notes Details

  Joby priced $600.0 million aggregate principal amount of 0.75% convertible senior notes due 2032, with an initial conversion price of approximately $14.19 per share, representing a 25% premium over the common stock offering price.

• Strategic Use of Proceeds

  The net proceeds, along with existing cash, will be used to fund certification and manufacturing efforts, prepare for commercial operations, and for general working capital and corporate purposes.

auto_awesomeAnalysis

This Free Writing Prospectus finalizes the terms of a substantial capital raise, following a preliminary announcement on January 28, 2026. Joby Aviation successfully priced an upsized offering of $600 million in common stock at $11.35 per share and $600 million in 0.75% convertible senior notes due 2032. The combined $1.2 billion in gross proceeds represents a significant capital infusion for Joby Aviation, crucial for advancing its electric air taxi development, certification, and preparation for commercial service. The convertible notes feature an initial conversion price of approximately $14.19 per share, representing a 25% premium over the common stock offering price, and are further protected by capped call transactions, which help mitigate potential dilution. While the common stock offering is at a slight discount to the current market price, the overall terms reflect strong institutional interest in funding the company's long-term strategic goals.