Electric passenger aircraft developer Joby Aero Inc is exploring a deal to go public through a merger with a blank-check acquisition firm at a valuation of around $5 billion, according to people familiar with the matter.
Joby has hired investment banks to solicit interest from so-called special purpose acquisition companies (SPACs) about a potential deal, the sources said.
The sources requested anonymity because the discussions are confidential and cautioned that no deal is certain. Joby declined to comment.
Electric passenger aircraft developer Joby Aero Inc is exploring a deal to go public through a merger with a blank-check acquisition firm at a valuation of around $5 billion, according to people familiar with the matter.
Joby has hired investment banks to solicit interest from so-called special purpose acquisition companies (SPACs) about a potential deal, the sources said.
The sources requested anonymity because the discussions are confidential and cautioned that no deal is certain. Joby declined to comment.
SPACs emerged last year as one of the most popular investment vehicles on Wall Street.
A deal for Joby would come on the heels of another SPAC deal in the sector. Air taxi company Blade Urban Air Mobility agreed to merge last month with Blade, Experience Investment Corp, driving up the latter’s shares by 50%.
Source: Reuters.com