Latham & Watkins Advises Joby Aviation on Underwritten Offering of Common Stock

Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, announced the pricing of its underwritten offering of common stock. Joby is selling 30,500,000 shares of common stock at an offering price of US$16.85 per share, resulting in gross proceeds of approximately US$513.9 million. In connection with the offering, Joby has granted the underwriter a 30-day option to purchase up to an additional 4,575,000 shares of common stock. Joby currently intends to use the net proceeds that it will receive from the offering, together with existing cash, cash equivalents, and short-term investments, to fund its certification and manufacturing efforts, prepare for commercial operations and for general working capital, and other general corporate purposes. The offering is expected to close on October 9, 2025, subject to satisfaction of customary closing conditions.

Latham & Watkins LLP advised Joby Aviation in the offering with a Capital Markets team led by partners Ross McAloon and Drew Capurro, with associates Jake Walsh, Rachel Staub, and Tony Noh.