BETA is a team of misfits, builders, makers, breakers, pilots, engineers, technicians, artists, chefs, and more—driven to change the aerospace industry.
Beta Technologies prices its IPO shares at $27 to $33, seeking to raise up to $825 million and reach an approximately $7.2 billion valuation at the top of the range. The Vermont-based electric aircraft company says it has never taken venture capital and has raised $1.15 billion from institutional investors, including Fidelity and Qatar Investment Authority; a recent GE Aerospace deal includes a $300 million investment and an equity stake.
Beta Technologies unveils a passenger-carrying version of its ALIA electric aircraft lineup, extending its plans beyond defense, cargo, and medical logistics into passenger travel. The concept shares much of the design and engineering of existing models, with five passenger seats, a pilot cabin, a luggage compartment, and additional windows; the company has not yet built a full passenger prototype. Beta says its aircraft are 13 to 14 months from FAA certification and cites customer orders from Blade, LCI, and Helijet.