Oct 15 (Reuters) -
Electric aircraft maker Beta Technologies said in a
regulatory filing on Wednesday that it was aiming for a U.S.
listing valuing the company at about $7.22 billion.
Vermont-based Beta plans to offer 25 million shares priced
between $27 and $33 each and is seeking to raise up to $825
million.
The offering comes amid a rebound in U.S. IPO activity
driven by easing market volatility, which is lifting investor
sentiment after a period of trade policy uncertainty.
Despite the U.S. government shutdown, companies can allow
their statements to become effective automatically, which
involves setting their IPO pricing 20 days before the listing
instead of finalizing it the night before after a U.S.
Securities and Exchange Commission review.
Cornerstone investors including Alliance Bernstein,
BlackRock ( BLK ), Ellipse, GE Aerospace and Federated
may buy up to $300 million in Class A shares in the
offering.
Beta designs, manufactures and sells high-performance
electric aircraft, advanced electric propulsion systems,
charging systems and components.
The company filed for an initial public offering in late
September and reported a net loss of $25.57 per share for the
six months ended June 30, compared with $19.38 per share a year
earlier.
It will list on the New York Stock Exchange under the ticker
symbol "BETA".
Morgan Stanley, Goldman Sachs, BofA Securities, Jefferies
and Citigroup are among the underwriters for the offering.