Beta Technologies ends first day on NYSE in the green and $1B raised
Shares of electric aviation startup Beta Technologies took flight Tuesday as the company made its debut on the New York Stock Exchange with an outsized raise of $1 billion and a stock price that closed up. The Vermont-based company priced shares in its IPO at $34, above its predicted range of $27 to $33. Beta Technologies sold 29.9 million shares to raise more $1 billion at a valuation of $7.4 billion. Once trading started, shares of Beta Technologies dipped before recovering and ultimately closing at $36. Beta Technologies’ public market debut is a capstone to founder and CEO Kyle Clark’s untraditional approach to building an aviation company. Clark, a Harvard-educated former professional hockey player and pilot instructor, founded Beta Technologies in 2017. He…
