
The electric air taxi company Joby Aviation completed a merger with Reinvent Technology Partners (RTP) on Aug. 10 making it the first publicly traded electric vertical takeoff and landing (eVTOL) company on the market. The company had $1.6 billion cash on its balance sheet as of March 31 and this transaction values Joby at $4.5 billion enterprise value. Joby will begin trading on the New York Stock Exchange on Aug. 11 under JOBY for common stock and JOBY WS for…