News Summary

• Beta Technologies sold 29.9 million shares to raise more $1 billion at a valuation of $7.4 billion.
• The Vermont-based company priced shares in its IPO at $34, above its predicted range of $27 to $33.
• Founder Kyle Clark, a Harvard-educated former professional hockey player and pilot instructor, founded Beta Technologies in 2017.
• Beta has raised funds — to the tune of $1.15 billion — from institutional investors like Fidelity and Qatar Investment Authority.
• Amazon and General Electric are among Beta’s biggest investors.