Beta Technologies ends first day on NYSE in the green and $1B raised | TechCrunch

Image for article Beta Technologies ends first day on NYSE in the green and $1B raised | TechCrunch
News Source : TechCrunch

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 and CEO Kyle Clark says he hopes for steady and slow growth of the stock, not a wild, uncontrolled pop.
  • Beta aims to be an OEM to the aviation sector.
  • The company has designed two electric aircraft, a conventional electric aircraft and an electric vertical takeoff and landing aircraft.
Shares of electric aviation startup Beta Technologies took flight Tuesday as the company made its debut on the New York Stock Exchange with an outsized raise of $1 billion and a stock price that clos [+2826 chars]

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