Joby Aviation appears to be on course to complete its merger with special purpose acquisition company Reinvent Technology Partners. The eVTOL aircraft developer announced the deal in February with projections that it would raise around $1.6 billion in gross proceeds. The merger, which is still being processed by the Securities and Exchange Commission will result in a New York Stock Exchange listing for the combined entity with an anticipated market capitalization of $6.6 billion.
This week, the prospective bride and groom distributed an Investment Memo to spell out their value proposition to Wall Street and beyond. The 112-page document is rich in detail on what Joby calls its “highly attractive and scalable business model” for building and operating eVTOL aircraft on flights of up to 150 miles.
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