BETA Technologies (BETA.US), a developer of small electric aircraft and propulsion systems, has raised $1 billion in its IPO by selling 29.9 million shares priced at $34 each, exceeding its initial target range of $27–$33. The company originally planned to offer 25 million shares.

Key cornerstone investors, including Alliance Bernstein, BlackRock, Ellipse, GE Aerospace, and Federated, have committed to purchasing $300 million worth of shares, accounting for 30% of the total offering. Post-pricing, BETA's fully diluted market valuation stands at $8.3 billion.

BETA designs, manufactures, and sells high-performance electric aircraft, advanced propulsion systems, charging infrastructure, and related components. Its ALIA CTOL electric aircraft, positioned at the forefront of electric aviation, has logged approximately 83,000 nautical miles in test flights across North America and Europe.

The company's market entry strategy initially targets cargo/logistics, military, and medical operators before expanding to passenger aircraft deliveries. BETA is also developing a digital platform called "BETA Operate," featuring four modules: maintenance, control center, network, and data analytics.

BETA plans to list on the NYSE under the ticker "BETA." Morgan Stanley, Goldman Sachs, BofA Securities, Jefferies, TPG Capital BD, and Citigroup are serving as joint lead underwriters for the offering.