M&A - Joby Aviation, Inc.

Form Type: 8-K

Filing Date: 2025-05-27

Corporate Action: Acquisition

Type: Update

Accession Number: 000181984825000352

Filing Summary: On May 22, 2025, Joby Aviation, Inc. amended and restated a stock purchase agreement with Toyota Motor Corporation to remove a services agreement closing condition, facilitating the closing of the first tranche of a private placement. Joby issued 49,701,790 shares of its common stock at $5.03 per share for a total of approximately $250 million. Concurrently, Joby and Toyota entered into a Second Amended and Restated Collaboration Agreement, reaffirming their relationship and defining additional collaborative goals in production phases, including manufacturing and supply support. Furthermore, on May 27, 2025, Joby announced the closing of this $250 million investment via a press release. The stock sale was exempt from registration under the Securities Act and is bound by specific obligations this agreement entails regarding the company’s operations and the use of proceeds from the sale of shares.