Electric aviation company Beta Technologies has set the price range for its initial public offering (IPO) between $27 and $33 per share, targeting up to $825 million in proceeds, according to a recent filing with the U.S. Securities and Exchange Commission (SEC). If shares are sold at the top of that range, the Vermont-based startup would debut with a valuation of roughly $7.2 billion.
Founded in 2017 by CEO Kyle Clark, a Harvard graduate, former professional hockey player, and flight instructor, Beta Technologies has taken a distinctive path compared to most tech startups. Rather than pursuing venture capital, the company has raised $1.15 billion from institutional investors such as Fidelity and the Qatar Investment Authority.
Beta filed its IPO paperwork on Wednesday, moving forward despite the ongoing U.S. government shutdown. Earlier this month, the SEC issued temporary guidance allowing certain IPO filings — including those specifying share prices — to become automatically effective after 20 days, even without direct staff review. Several companies, including Navan, have also used this provision to proceed with their public offerings.
In September, Beta Technologies announced a strategic partnership with GE Aerospace to develop a hybrid-electric turbogenerator for next-generation aircraft. As part of the deal, GE Aerospace agreed to acquire a stake in Beta and invest $300 million in the company.
