Joby Aviation Announces $500 Million Public Offering of Common Stock

Joby Aviation, Inc. (NYSE: JOBY) today announced the pricing of an underwritten public offering of 30.5 million shares of its common stock at a public offering price of $16.85 per share, representing an approximate 11% discount to the company’s closing price of $18.91 on October 7, 2025.

The offering is expected to generate approximately $513.9 million in gross proceeds, before deducting underwriting discounts, commissions, and estimated offering expenses. Joby has granted underwriters a 30-day option to purchase up to an additional $75 million of common stock at the offering price, less underwriting discounts and commissions. The offering is expected to close on Thursday, October 9, 2025, subject to customary closing conditions.

Following the announcement, Joby Aviation’s shares declined approximately 6% in after-hours trading as investors reacted to concerns over dilution from the expanded share count. The company’s market capitalization stands at roughly $16.3 billion.

Use of Proceeds

Joby Aviation stated that it intends to use the net proceeds from the offering to support ongoing aircraft certification, manufacturing scale-up, and commercial readiness efforts, as well as for general corporate purposes and working capital.

As a pre-revenue company developing electric vertical takeoff and landing (eVTOL) aircraft, Joby continues to advance toward commercial air taxi service in the coming years. The capital raised is expected to strengthen the company’s financial position as it progresses through Federal Aviation Administration (FAA) certification milestones and expands production capacity at its manufacturing facilities.

Market Context

Joby Aviation’s stock has risen significantly year-to-date, driven by investor optimism surrounding demonstration flights and progress toward FAA certification. Analysts note that the discounted offering reflects a strategic decision to secure long-term funding while balancing near-term dilution concerns among existing shareholders.

Joby remains one of the most closely watched companies in the emerging eVTOL sector, with its valuation tied to expectations of future commercial operations rather than current revenue.

About Joby Aviation

Joby Aviation, Inc. (NYSE: JOBY) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger service. Founded in 2009, Joby’s mission is to build quiet, zero-emissions aircraft that reduce urban congestion and connect communities through affordable air mobility. The company is headquartered in Santa Cruz, California.

At the time of publishing, Stocks.News does not hold positions in companies mentioned in the article.