Beta Technologies shares open flat in NYSE debut

Investing.com -- Shares of Beta Technologies opened flat in their New York Stock Exchange debut on Tuesday, valuing the electric aircraft maker at $7.44 billion.

The South Burlington, Vermont-based aerospace manufacturer raised $1.01 billion in its U.S. initial public offering on Monday, pricing its shares at $34 apiece, above its indicated range of $27 to $33.

Beta Technologies develops electric vertical take off and landing (eVTOL) and electric conventional take-off and landing (eCTOL) aircraft for the cargo, medical passenger, and military aviation industries. The company has also developed a network of chargers which can supply power to their aircraft and other electric vehicles.

The company’s aircraft has been used by the U.S. military in training missions and flown by the Federal Aviation Administration.

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