Beta Technologies ends first day on NYSE in the green and $1B raised

Beta Technologies, an electric aviation startup based in Vermont, made a strong debut on the New York Stock Exchange by raising over $1 billion through its IPO, pricing shares at $34—above the expected range—and closing the day at $36. The company sold 29.9 million shares, achieving a valuation of $7.4 billion. Founded in 2017 by Kyle Clark, a former professional hockey player and pilot instructor, Beta took an unconventional path by avoiding Silicon Valley and venture capital, instead securing $1.15 billion from institutional investors such as Fidelity, Qatar Investment Authority, Amazon, and General Electric. Notably, Beta proceeded with its IPO filing during a government shutdown under new SEC guidance allowing IPOs to become effective after 20 days without staff review, enabling a prolonged roadshow that Clark believed strengthened investor confidence. Beta Technologies focuses on developing electric aircraft and related infrastructure, aiming to become an original equipment manufacturer (OEM) in aviation. It has designed two models: the Alia