Electric aircraft maker Beta Technologies has raised more than $1 billion in its U.S. initial public offering, pricing shares above the expected range at $34 each. The sale of 29.9 million shares gives the Vermont-based company a valuation of about $7.4 billion and marks one of the largest listings in the resurgent IPO market. Beta’s stock is set to debut Tuesday on the New York Stock Exchange under the ticker symbol “BETA.”
Founded in 2018 by CEO Kyle Clark, Beta Technologies designs and manufactures electric aircraft, propulsion systems and charging infrastructure. The company has logged nearly 83,000 nautical miles of flight time with its conventional takeoff and landing aircraft, according to filings cited by Bloomberg. Certification of that aircraft is targeted for late 2027 or early 2028, followed by certification of its vertical takeoff and landing model about a year later. Beta’s aircraft have been flown by the U.S. military and the FAA during training and testing operations.
Bloomberg reported that the offering was multiple times oversubscribed, signaling growing investor confidence in electric aviation after several years of market volatility. The company’s cornerstone investors include General Electric, which also holds a $300 million strategic stake, along with Amazon and United Therapeutics.
Beta Technologies’ valuation places it between publicly traded peers Joby Aviation and Archer Aviation, both of which went public through special purpose acquisition companies. The IPO’s initial success adds momentum to a sector aiming to bring certified electric aircraft into commercial service later this decade.
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