Joby Aviation Announces Proposed Offerings of Common Stock and Convertible Senior Notes

Got story updates? Submit your updates here. ›

Joby Aviation, Inc., a company developing electric air taxis for commercial passenger service, announced its intention to offer convertible senior notes due 2032 and shares of its common stock, with the aggregate proceeds anticipated to be $1,000,000,000. Joby also expects to grant the underwriters of the note offering a 30-day option to purchase additional notes and the underwriters of the common stock offering a 30-day option to purchase additional common stock.

Why it matters

The proposed offerings will help fund Joby's certification and manufacturing efforts, prepare for commercial operations, and support the company's general corporate purposes as it works to bring its electric air taxi service to market. The capped call transactions are expected to reduce potential dilution to Joby's common stock upon any conversion of the notes.

The details

Joby intends to use a portion of the net proceeds from the note offering to fund the cost of entering into the capped call transactions, which are expected to generally reduce the potential dilution to Joby's common stock upon any conversion of the notes and/or offset any potential cash payments Joby is required to make in excess of the principal amount of converted notes. The remainder of the net proceeds from the note offering, together with the net proceeds from the common stock offering, will be used to fund Joby's certification and manufacturing efforts, prepare for commercial operations, and for general working capital and other general corporate purposes.

• Joby announced the proposed offerings on January 28, 2026.

What’s next

Joby expects to grant the underwriters of the note offering a 30-day option to purchase additional notes and the underwriters of the common stock offering a 30-day option to purchase additional common stock.