SK Telecom invests $100M in Joby Aviation, expands UAM partnership

On the Effective Date, in connection with the transactions contemplated by the Subscription Agreement and the issuance of the Shares, the Company entered into a Registration Rights Agreement with SKT relating to certain registration rights with respect to the Shares (the “Registrable Securities”).

On June 27, 2023 (the “Effective Date”), Joby Aviation, Inc., a Delaware corporation (the “Company”), entered into a Subscription Agreement (the “Subscription Agreement”) with SK Telecom, Co., Ltd., a corporation organized under the laws of the Republic of Korea (“SKT”), pursuant to which SKT subscribed for and purchased from the Company, and the Company has agreed to sell and issue to SKT, in a private placement (the “Private Placement”), 15,037,594 shares (the “Shares”) of the Company’s common stock, $0.0001 per share par value, (the “Common Stock”), at the per-share purchase price of $6.65, for an aggregate purchase price of one hundred million dollars and ten cents ($100,000,000.10).