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Joby Aviation Simplifies Company Structure | Business

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SANTA CRUZ, Calif .– (BUSINESS WIRE) – October 25, 2021–

Joby Aviation, Inc. (NYSE: JOBY) (“Joby” or “the Company”), a California-based company developing all-electric aircraft for commercial passenger service, today confirmed the simplification of the corporate structure of Joby.

Joby Holdings, Inc. (“Joby Holdings”), a Delaware corporation, a former shareholder of Joby and a holding company through which the employees of Joby indirectly held interests in the shares of Joby, merged with and in Joby more early in the day. As a result of this action, the shareholders of Joby Holdings directly received a corresponding number of shares of Joby Aviation, Inc. Simultaneously, all of the shares of Joby held by Joby Holdings were canceled, resulting in no dilution. for holders of Joby shares. None of these changes will result in any change in the directors, officers, management or business of Joby.

Immediately prior to this change, Joby Holdings held approximately 16% of the total outstanding shares of Joby.

Joby will file Form S-1 with the Securities and Exchange Commissions (“SEC”) to register the shares issued under the shares described above.

About Joby

Joby Aviation, Inc. (NYSE: JOBY) is a California-based company developing an all-electric vertical take-off and landing aircraft that it intends to operate as a fast, quiet and convenient air taxi service. from 2024. The aircraft, which has a maximum range of 150 miles on a single charge, can carry one pilot and four passengers at speeds of up to 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transportation. Founded in 2009, Joby employs over 800 people, with offices in Santa Cruz, San Carlos and Marina, California, as well as Washington DC and Munich, Germany. To learn more, visit www.jobyaviation.com.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the development of the aircraft. of Joby and the financial and market outlook. Forward-looking statements give Joby’s current expectations and projections regarding our financial condition, results of operations, plans, objectives, future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “plan”, “plan”, “intend”, “believe”, “can”, “will”. , “Should”, “may have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operational or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those we expected, including: Joby’s limited operating history and history of losses; its ability to launch its air carpooling service and the growth of the urban air mobility market in general; Joby’s plans to operate a commercial passenger service from 2024; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to respond effectively to changes in regulations and standards relating to its aircraft; its dependence on third-party service providers and partners; uncertainties related to Joby’s estimates of the size of the market for its aircraft and future revenue opportunities; and other important factors discussed in the final prospectus and definitive proxy circular of the Company, dated April 2, 2021, filed with the Securities and Exchange Commission (the “SEC”), as updated by the factors disclosed in the section titled “Risk Factors” in its current report on Form 8-K filed with the SEC on August 16, 2021, and in other reports the company files or provides to the SEC. These forward-looking statements represent the estimates and beliefs of management as of the date of this press release. While Joby may choose to update these forward-looking statements at some point in the future, he disclaims any obligation to do so, even if subsequent events change his view.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211025005765/en/

CONTACT: Investors:

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+ 1-831-201-6006 Media:

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KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: AEROSPACE MANUFACTURING

SOURCE: Joby Aviation, Inc.

Copyright Business Wire 2021.

PUB: 25/10/2021 16:05 / DISC: 25/10/2021 16:06

http://www.businesswire.com/news/home/20211025005765/en

Copyright Business Wire 2021.


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