Electric Aircraft Maker Beta Technologies Goes Public with $1 Billion IPO

Beta Technologies, an electric aircraft manufacturer, successfully raised one point zero two billion dollars in its initial public offering, pricing at thirty-four dollars per share. The IPO was oversubscribed by approximately twenty times, indicating strong investor interest despite potential market turbulence due to the U.S. government shutdown, according to Transport Topics.

The offering expanded to twenty-nine point nine million shares from an initial plan of twenty-five million, with the price range adjusted upwards, reflecting heightened demand. With this valuation, Beta Technologies is positioned with a market cap of seven point six billion dollars, placing it between publicly traded companies Joby Aviation and Archer Aviation.

Joby is currently valued at fourteen point four billion, while Archer stands at six point eight billion. Beta has been developing electric aircraft for both passenger and defense roles since its inception in twenty seventeen, logging nearly eighty-three thousand nautical miles of flight history.

The company aims to prioritize cargo and logistics applications initially, with regulatory certifications for its aircraft expected by late twenty twenty-six or early twenty twenty-seven. In the first half of twenty twenty-five, Beta reported a net loss of one hundred eighty-three million on revenues of fifteen point six million, reflecting the ongoing challenges faced by electric aircraft developers.

Key stakeholders in the IPO include CEO Kyle Clark, who will retain sixty-three percent of the voting power post-IPO, and notable investors such as Amazon's Climate Pledge Fund and General Electric. The offering is led by investment banks Morgan Stanley and Goldman Sachs, and Beta is set to begin trading on the New York Stock Exchange under the ticker symbol BETA.

The strong market response to Beta's IPO underscores the increasing investor enthusiasm for sustainable aviation technologies, as the industry anticipates a future where electric aircraft could become mainstream in transportation.