Beta Technologies (BETA) is drawing strong investor interest ahead of its stock market debut, signaling renewed confidence in the electric aircraft sector after several years of skepticism following the SPAC-driven market downturn.
The Vermont-based company’s initial public offering is oversubscribed by a wide margin and expected to price around $34 per share, above its initial $27 to $33 range, Bloomberg News reported Monday, citing people familiar with the deal.
That would give Beta (BETA) a valuation exceeding $7.6 billion, placing it between competitors Joby Aviation (JOBY) and Archer Aviation (ACHR), valued at about $14.4 billion and $6.8 billion, respectively.
While Joby (JOBY) and Archer (ACHR) went public through special purpose acquisition companies during the 2021 boom, both struggled afterward as enthusiasm waned for pre-revenue aviation ventures. Their recent rebounds, fueled by partnerships with Nvidia (NVDA) and Anduril, respectively, have rekindled optimism that electric aircraft could soon play a mainstream role in transportation.
Founded in 2018 by CEO Kyle Clark, Beta has logged nearly 83,000 nautical miles of flight testing with its conventional takeoff and landing aircraft. The company plans to focus initially on cargo transport before expanding into passenger service. Certification for its cargo aircraft is targeted for late 2026 or early 2027, followed by its vertical takeoff model a year later.
Beta’s backers include General Electric (GE), which invested $300 million and agreed to purchase up to another $300 million worth of shares in the IPO, along with existing investors Amazon (AMZN) and United Therapeutics (UTHR).
Despite limited revenue and ongoing losses, Beta’s offering highlights a broader investor appetite for early-stage firms at the intersection of aviation and clean technology. If successful, Beta’s listing could mark a turning point for the electric aviation industry, signaling that investors are ready to fund the long climb from prototype to profitable flight.