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Reuters: Beta Technologies Secures $1.01 Billion in U.S. IPO
Summary generated with AI, editor-reviewed
Heartspace News Desk
•Source: Reuters
Photo by Sneha Thomas on Unsplash
TL;DR
Electric aircraft manufacturer Beta Technologies raised $1.01 billion in its IPO, pricing 29.9 million shares at $34 each and surpassing its initial target. The IPO values the Vermont-based company at $7.44 billion, with trading set to begin on the New York Stock Exchange under the ticker symbol "BETA.".
Key takeaways
- Beta Technologies, an electric aircraft manufacturer, has successfully raised $1
- 01 billion through its U
- initial public offering, according to a Reuters report
Beta Technologies, an electric aircraft manufacturer, has successfully raised $1.01 billion through its U.S. initial public offering, according to a Reuters report. The company priced 29.9 million shares at $34 each, exceeding its initial range of $27 to $33 per share.
The IPO values the Vermont-based company at $7.44 billion. Beta Technologies is scheduled to commence trading on the New York Stock Exchange under the ticker symbol "BETA." Morgan Stanley, Goldman Sachs, and BofA Securities acted as underwriters for the listing.
Related Topics
Beta TechnologiesIPOelectric aircraftfundingaviation
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