Latham & Watkins Advises Joby Aviation in Upsized Offerings of Common Stock and Convertible Senior Notes

Joby Aviation, Inc. (NYSE: JOBY) announced the pricing of its concurrent public offerings of US$600 million aggregate principal amount of 0.75% convertible senior notes due 2032 and 52,863,437 shares of common stock at a public offering price of US$11.35 per share. The proceeds will be used to fund certification and manufacturing efforts, prepare for commercial operations, and support general corporate purposes. In connection with the sale of the convertible senior notes, 5,286,343 shares of common stock are also being borrowed from non‑affiliate third parties to facilitate hedging transactions by certain investors subscribing for the notes.

Latham & Watkins LLP represents Joby Aviation in the transactions with a corporate team led by Orange County/Bay Area partner Ross McAloon and Orange County partner Drew Capurro, with associates Jacob Walsh, Rachel Staub, Brice Stewart, and Tony Noh. Advice was also provided on products matters by Los Angeles/New York partner Greg Rodgers and New York partner Ryan Gold, with associates Andrew Bentz and Helen Zhang; on derivatives matters by New York partner Reza Mojtabaee‑Zamani, with associate Daniel Weiss and assistance from Nathan Ye; and on tax matters by Bay Area partner Katharine Moir and New York partners Bora Bozkurt and Aaron Bernstein, with associates Jacob Meninga and Farrah Yan.