Overview
- Beta priced its offering at $34 a share, above the $27–$33 range, selling 29.9 million shares for roughly $1.01 billion and implying a valuation near $7.4 billion.
- Shares trading under the ticker BETA ended their first session at about $36, up roughly 6% from the IPO price.
- CEO Kyle Clark said the company targets full FAA certification for commercial operations in about 30 months, following extensive test flying and defense missions.
- Beta’s prospectus highlights an aftermarket model projecting up to 20 battery replacements per aircraft over 20 years, assumptions that industry analysts are questioning.
- Pre‑IPO backers include Amazon and GE, with GE committing $300 million, and the deal was reported to be oversubscribed by double digits.