Joby launches $200M public offering ahead of 2025 commercial eVTOL release

Electric vertical takeoff and landing vehicle startup Joby Aviation has launched a public offering to sell up to $200 million of its shares of common stock, per a regulatory filing. Joby said it will use the proceeds from the raise -- together with its existing cash -- to fund its certification and manufacturing efforts, prepare for commercial launch in 2025, and for general working capital. The eVTOL firm added that it intends to grant the underwriters a 30-day option to purchase an additional $30 million worth of shares of its common stock.