02:28 PM EDT, 10/08/2025 (MT Newswires) -- (Updates with the latest stock movement in the first paragraph and headline.)

Joby Aviation ( JOBY ) shares were down 9.4% in recent Wednesday trading after the company said it has priced a public offering of 30.5 million shares at $16.85 each for estimated gross proceeds of about $513.9 million.

The underwriter has been granted a 30-day option to purchase up to about 4.6 million additional shares.

Proceeds from the offering, expected to close Thursday, will help Joby continue certifying its aircraft, ramp up manufacturing, prepare for commercial operations and cover general business.

Price: 17.14, Change: -1.78, Percent Change: -9.39