Joby Aviation has entered into a stock purchase agreement with Toyota Motor Corporation on October 1, 2024, for a $500 million private placement structured in two equal tranches of $250 million each. The deal involves issuing up to 99,403,579 shares at $5.03 per share.The first tranche requires regulatory approvals, including CFIUS clearance and HSR Act compliance, along with amendments to company bylaws regarding foreign ownership requirements. The second tranche is contingent on executing a strategic alliance agreement for manufacturing arrangements and stockholder approval of charter amendments at the 2025 annual meeting.The proceeds will support Joby's certification efforts and commercial production of its electric air taxi. The company must file a registration statement with the SEC by September 30, 2025, for the resale of shares. The private placement is exempt from Securities Act registration requirements under Section 4(a)(2) and Rule 506 of Regulation D.

Joby Aviation has entered into a stock purchase agreement with Toyota Motor Corporation on October 1, 2024, for a $500 million private placement structured in two equal tranches of $250 million each. The deal involves issuing up to 99,403,579 shares at $5.03 per share.The first tranche requires regulatory approvals, including CFIUS clearance and HSR Act compliance, along with amendments to company bylaws regarding foreign ownership requirements. The second tranche is contingent on executing a strategic alliance agreement for manufacturing arrangements and stockholder approval of charter amendments at the 2025 annual meeting.The proceeds will support Joby's certification efforts and commercial production of its electric air taxi. The company must file a registration statement with the SEC by September 30, 2025, for the resale of shares. The private placement is exempt from Securities Act registration requirements under Section 4(a)(2) and Rule 506 of Regulation D.