Beta Technologies aims for $7.22 billion valuation in US IPO
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Beta Technologies aims for $7.22 billion valuation in US IPO

by Inkhabar webdesk
Beta Technologies aims for $7.22 billion valuation in US IPO

(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, 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. (Reporting by Anuj T in Bengaluru; Editing by Pooja Desai)

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