Joby Aviation slides on plan to raise $1B with convertibles and stock offering
Joby Aviation announced a roughly $1 billion capital raise consisting of convertible senior notes due 2032 and a concurrent equity offering, with notes potentially converting at up to a 30% premium and stock shares priced at a discount to the current price. The move triggered a premarket stock decline as the company aims to fund its production-expansion plan to double output by 2027; cash on hand was $978.1 million at the end of Q3.
