Joby Stays Silent on Reports It Plans to Go Public Through SPAC Merger
Based on unnamed sources, a Reuters report says Joby has been in contact with investment banks to pursue a tie-up with a SPAC.
Joby Aviation has declined to comment on a Reuters report that the eVTOL aircraft developer plans to go public through a merger with a so-called special-purpose acquisition company (SPAC). According to unnamed sources in a January 21 story, the California-based startup has engaged investment banks to explore possibilities for raising further capital through a tie-up with a SPAC.
Rumors about Joby’s possible next moves to raise capital surfaced just a month after similar reports about another eVTOL startup, Lilium. The German company also declined to comment on reports that it is exploring the SPAC path to raise more capital to meet rising costs associated with certifying its all-electric aircraft.
