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Electric aircraft developer Beta Technologies is preparing to go public via an initial public offering (IPO) of its shares, multiple people with knowledge of the development tell The Air Current.
TAC understands that Beta expects to make a public filing with the U.S. Securities and Exchange Commission (SEC) by the end of this year. A spokesman for Beta said in response to a request for comment that it was “not confirming” any aspect of TAC’s reporting.
Founded in 2017 in Vermont by CEO Kyle Clark, Beta Technologies has followed a markedly different path than other leading developers of electric vertical take-off and landing aircraft. The company largely resisted jumping on the urban air mobility bandwagon that was popularized by Uber Elevate, instead focusing its development and investor narrative primarily on cargo and medical use cases.
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