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Joby Aviation (JOBY) Stock Drops 6% on $500M Defense Acquisition and $750M Share Offering
['Trader Edge']
MoneyCheck
On Tuesday, the company revealed plans to purchase Resonant Sciences, an Ohio-based firm, for roughly $500 million.
Joby Aviation, Inc., JOBYThe acquisition will be financed through $450 million in cash alongside $50 million worth of Joby shares.
Resonant Sciences specializes in designing, producing, and delivering sophisticated radio-frequency and mission systems for United States national security agencies.
Alongside the acquisition news, Joby revealed a fresh at-the-market equity offering program valued at as much as $750 million.
The Resonant Sciences acquisition remains contingent on regulatory clearance and is projected to close in early 2027.