Electric aircraft startup Beta Technologies seeks to raise $825M in IPO

Beta Technologies, an electric aviation startup based in Vermont and founded in 2017 by CEO Kyle Clark, has priced its initial public offering (IPO) shares between $27 and $33, aiming to raise up to $825 million. Despite the ongoing government shutdown, the company filed its IPO paperwork by leveraging recent SEC guidance that allows certain IPO statements to become automatically effective after 20 days without staff review. This move follows a trend of other companies advancing IPO plans under the same rule. Distinct from typical Silicon Valley startups, Beta Technologies has avoided venture capital funding, instead securing $1.15 billion from institutional investors such as Fidelity and the Qatar Investment Authority. Recently, the company announced a partnership with GE Aerospace to develop a hybrid-electric turbogenerator for next-generation aircraft, with GE investing $300 million and acquiring a stake in Beta. This strategic collaboration highlights Beta’s focus on advancing electric aircraft technology through significant institutional backing and innovative development.