Joby Aviation has entered into an equity distribution agreement with Morgan Stanley & Co. LLC and Allen & Company LLC to sell up to $300 million of common stock through an at-the-market offering program. The shares will be sold from time to time at Joby's discretion at prevailing market prices.The net proceeds will be used to fund Joby's certification and manufacturing efforts, prepare for commercial operations, and for general working capital purposes. The agents will receive a 3% commission on gross sales. This offering provides Joby with additional financial flexibility as it progresses towards commercialization of its electric vertical takeoff and landing (eVTOL) aircraft.Joby is developing a piloted eVTOL aircraft designed to transport a pilot and four passengers at speeds up to 200 mph with a range of 100 miles. The company aims to launch commercial passenger operations as early as the end of 2025, pending regulatory approvals.

Joby Aviation has entered into an equity distribution agreement with Morgan Stanley & Co. LLC and Allen & Company LLC to sell up to $300 million of common stock through an at-the-market offering program. The shares will be sold from time to time at Joby's discretion at prevailing market prices.The net proceeds will be used to fund Joby's certification and manufacturing efforts, prepare for commercial operations, and for general working capital purposes. The agents will receive a 3% commission on gross sales. This offering provides Joby with additional financial flexibility as it progresses towards commercialization of its electric vertical takeoff and landing (eVTOL) aircraft.Joby is developing a piloted eVTOL aircraft designed to transport a pilot and four passengers at speeds up to 200 mph with a range of 100 miles. The company aims to launch commercial passenger operations as early as the end of 2025, pending regulatory approvals.