StoryFunding
BETA Technologies lists on the NYSE, raising about $1B
BETA Technologies completed its initial public offering on the New York Stock Exchange, selling 29.9 million Class A shares at $34 per share, raising approximately $1 billion. The Vermont company develops the ALIA electric aircraft and electric motors and chargers.
- 29.85 million shares at $34/share; ~$1.015B at IPO price.
- $951.7M net proceeds after underwriting fees.
- Post-IPO valuation: ~$7.6 billion at $34/share.
- Founder Kyle Clark retains 62.6% voting power via Class B shares (40 votes each).