Beta Technologies Inc., the Vermont-based developer of electric aircraft, is seeking to raise up to $825 million in an initial public offering, proceeding with the plan despite the ongoing US government shutdown, Bloomberg reported. The company filed with the Securities and Exchange Commission on Wednesday to sell 25 million shares at a price range of $27 to $33 each. At the top of the range, the IPO would give Beta a market value of $7.2 billion, a significant increase from its $2.4 billion valuation in 2022 and last year’s funding round led by the Qatar Investment Authority.
The offering faces regulatory uncertainty because the SEC is unable to declare IPO registrations effective during the federal shutdown. The agency issued guidance in early October allowing companies to include a price range in filings, but firms still must wait 20 days for formal registration, exposing them to risk. Beta aims to price its IPO on November 3, with interest already indicated from accounts managed by AllianceBernstein, BlackRock, GE Aerospace, and Federated Hermes Kaufmann Funds, which together could acquire up to $300 million in shares.
Beta reported a net loss of $183 million on $15.6 million in revenue for the first half of 2025, widening from a $137 million loss on $7.6 million in revenue in the same period of 2024. The company, founded in 2017, develops electric aircraft for passenger and defense applications. Its ALIA Conventional Take-Off and Landing vehicle recently completed a flight from the Hamptons to JFK Airport and debuted at the Paris Air Show. Beta aircraft have been tested by both the Federal Aviation Administration and the U.S. Military.
CEO Kyle Clark emphasized the transformative potential of electric aviation in a founder letter, saying it is “inevitable” and could reduce flight costs, improve safety, and expand the utility of aviation while balancing environmental concerns. Following the IPO, Clark is expected to retain 63.2% of voting power and all Class B shares, while FMR LLC would hold 12.8% of Class A shares and Amazon’s Climate Pledge Fund 5.6%. GE Aerospace, part of a strategic partnership to develop a hybrid electric turbogenerator, is expected to hold 9% of Class A stock.
Morgan Stanley and Goldman Sachs are leading the IPO, and Beta plans to list on the New York Stock Exchange under the ticker BETA. Bloomberg noted that the offering marks one of the largest electric aviation IPOs to date and comes at a moment when investors are closely watching the intersection of technology, sustainability, and aerospace innovation.
