Beta Technologies IPO pegged at USD 1.02 bn: US-based electric-powered aircraft manufacturer Beta Technologies has raised USD 1.02 bn in its IPO, Bloomberg reported. The IPO landed above the marketed range — despite turbulence formed in the wake of the US government shutdown, which has caused short-term delays in the market pipeline.

Regional links: A Qatar Investment Authority-led funding round raised USD 318 mn for Beta last year.

About Beta Technologies: The firm specializes in the design, manufacture, and sale of electric aircraft, as well as aircraft components and charging systems. Beta’s flagship carriers — Alia VTOL and CTOL —– have a range of 336 nm and a cargo capacity of 200 cf, with less than one hour of charging time, according to its website.

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