The Intel Capital, JetBlue Technology Ventures, Toyota AI Ventures and Uber-backed flying car developer is set to list on the NYSE.

Joby Aviation, a US-based air taxi developer backed by corporates Intel, JetBlue, Toyota and Uber, agreed a reverse merger yesterday with special purpose acquisition company Reinvent Technology Partners.

Baupost Group, funds and accounts managed by BlackRock, Fidelity and Baillie Gifford have anchored a $835m private investment in public equity, while Uber will convert $75m of bonds into equity.

Combined with $690m held in trust by Reinvent, Joby Aviation will receive $1.6bn in gross proceeds and the combined business is expected…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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