The shareholders of the blank-check company Reinvent Technology Partners (NYSE: RTP) have approved its merger with Joby, positioning the California-based eVTOL developer to begin trading on the New York Stock Exchange next week under the ticker symbol JOBY.
What happens to RTP stock after merger?
What happens to RTP stock after the merger? RTP stock will immediately convert to JOBY stock after the transaction closes. As a result, RTP investors will become shareholders in Joby Aviation.
Who is RTP merging with?
In February, Joby Aviation announced that it plans to go public by merging with the SPAC Reinvent Technology Partners (RTP). The deal will provide Joby with $1.6 billion in cash and value it at approximately $6.6 billion.
Can you buy JOBY stock?
Investors can easily buy JOBY stock now that it is trading on the New York Stock Exchange. Joby is actually the first U.S.-based eVTOL (electric vertical takeoff and landing) company listed on a public market to trade on the NYSE.
Can I buy RTP stock?
, you can buy Reinvent Technology Partners stock in any dollar amount, or any other fund or stock you know on Stash.
Will Joby Aviation Go Public?
Joby Aviation announced Wednesday its plans to list publicly on the New York Stock Exchange, and pledged to have a commercial air taxi service operating in 2024. To go public, Joby Aviation will be acquired by Reinvent Technology Partners, a special purpose acquisition company (SPAC).
What happened to RTP?
Joby Aviation (RTP), one of the leading eVTOL companies to date, is finally going public after shareholders approved the company’s merger with Reinvent Technology Partners, a SPAC led by Reid Hoffman and Mark Pincus. … On August 11, RTP will perform a ticker change to “JOBY” as the eVTOL pioneer debuts in the market.
Is RTP a SPAC?
Reinvent Technology Partners (RTP), a SPAC (special purpose acquisition company) has announced a merger with Joby Aviation, a company focused on UAM (urban air mobility). … The company plans to merge with Atlas Crest Investment (ACIC).
Why is RTP stock dropping?
Why RTP stock is falling
The drop looks to be a result of several factors. First, there are investors taking profit after the stock soared on the back of the Joby merger announcement. Also, the pullback in RTP stock can be linked to the usual adjustment in SPACs as they approach the merger date.
Who is reinvent technology?
About Reinvent Technology Partners
Reinvent Technology Partners is a newly formed special purpose acquisition company led by Reid Hoffman, Mark Pincus and Michael Thompson, that takes a “venture capital at scale” approach to partnering with bold leaders and companies.
Is Lilium publicly traded?
AKIKO FUJITA: Air taxi company Lilium beginning trading on the NASDAQ today under the ticker LILM. The German firm is just the latest electric aircraft startup to enter the public market. It is raising more than $580 million in a SPAC merger with Qell acquisition group.
What does Joby Aviation Do?
U.S. Joby Aviation is a Californian venture-backed aerospace company, developing an electric vertical takeoff and landing (eVTOL) aircraft that it intends to operate as an air taxi service.
What is a SPAC stock?
Rather than go public through an initial public offering, more private companies are opting to debut on stock exchanges via an acquisition at the hands of a SPAC, a publicly traded chunk of funds devoted to taking private companies public through mergers.
Why is Joby dropping?
Air-taxi start-up Joby Aviation (NYSE:JOBY) sank more than 20% intraday Friday amid its heaviest trading volume since going public last month, apparently falling after filing a shelf prospectus authorizing certain large investors to sell their shares over time. … JOBY took over Reinvent’s listing the next day.
Who owns Joby?
JoeBen Bevirt, founder and CEO of Joby Aviation, stands in front of a prototype of its five-seat …
Is Joby Aviation a SPAC?
Joby Aviation started trading under the ticker “JOBY” after combining with Reinvent Technology Partners, a SPAC run by LinkedIn co-founder Reid Hoffman and Zynga founder Marc Pincus. Joby is the latest aviation start-up to pursue a SPAC deal.
Is Joby Aviation profitable?
The financial projections have been lofty as well: Joby and RTP told investors it will start earning a profit by 2026 on $2 billion in revenue, and 10 years from now, it will be generating $20 billion in revenue with 14,000 aircraft flying in 20 cities.
Who is funding Lilium?
Lilium itself joined Europe’s unicorn club of startups with a $1 billion valuation following a $35 million round from high-profile tech investors Baillie Gifford in June.
What does SPAC stand for?
SPAC, or special purpose acquisition company, is another name for a “blank check company,” meaning an entity with no commercial operations that completes an initial public offering (IPO).
Are Lilium Jets real?
The Lilium Jet is a prototype five-seat German electric vertical take-off and landing (eVTOL) electrically powered airplane designed by Lilium GmbH. A seven-seat production version is planned.
What is Cisco RTP?
Real-Time Transport Protocol. Commonly used with IP networks. RTP is designed to provide end-to-end network transport functions for applications transmitting real-time data, such as audio, video, or simulation data, over multicast or unicast network services.
What does RTP stock do?
It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus its search for a target business operating in the technology sectors.
What is RTP SPAC?
RTP is a SPAC launched by LinkedIn co-founder Reid Hoffman and Zynga co-founder Mark Pincus, while Joby had previous backing from Toyota (NYSE:TM). Joby also has what it calls an “enhanced relationship” with Uber (NYSE:UBER), having previously bought the company’s Uber Elevate aerial ride-sharing business.