Joby Aviation subsidiary agrees to buy 162,000 sq ft Santa Cruz property for $25.5M

Joby Aviation, Inc.

Purchase price $25.5M for five buildings totaling ~162,000 sq ft at 345 Encinal Street, Santa Cruz.
Deposit of $400,000; if buyer defaults, deposit forfeited as liquidated damages.
Closing expected on November 30, 2022; Plantronics leasing back a portion for up to 12 months.
Transaction financed with cash; allocation: $25.296M real property, $204K personal property.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

Joby Aviation, Inc. entered into Purchase and Sale Agreement with Frederick Electronics Corporation and Plantronics, Inc. valued at $25,500,000 (effective 2022-11-04).

Action: entry
Agreement: asset purchase
Counterparty: Frederick Electronics Corporation and Plantronics, Inc.
Value: $25,500,000
Effective: 2022-11-04

Exact text from the filing

On November 4, 2022, Joby Aero, Inc., a wholly-owned subsidiary of Joby Aviation, Inc., (the “Company”) entered into a Purchase and Sale Agreement (the “Agreement”) with Frederick Electronics Corporation, a Maryland corporation (“Frederick”) and Plantronics, Inc., a Delaware corporation (“Plantronics” and, together with Frederick, the “Seller”).

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Joby Aviation, Inc. filing history →

Source: SEC EDGAR

accession 0001819848-22-000190

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