11:22 AM EST, 01/29/2026 (MT Newswires) -- (Updated with stock price movement in the headline and first paragraph.)

Joby Aviation ( JOBY ) shares were down about 18.1% in recent Thursday trading after it priced concurrent public offerings of $600 million of 0.75% convertible senior notes due 2032 and 52.9 million shares at $11.35 per share, increasing the aggregate offering size from $1 billion.

The company also said a separate "delta" offering of 5.3 million shares that were borrowed by Morgan from third parties was priced to facilitate hedging transactions related to the convertible notes. Joby said Morgan Stanley will initially offer shares at $11.35 per share.

Joby said it will not receive any proceeds from the delta offering.

The company said it granted underwriters a 30-day option to purchase up to an additional $90 million in notes and up to 7.9 million additional shares in the equity offering.

Proceeds from the offerings, expected to settle on Monday, will be used to fund aircraft certification and manufacturing efforts, prepare for commercial operations, and for general corporate purposes.

Price: 10.98, Change: -2.40, Percent Change: -17.91