Joby to acquire Blade's passenger business for up to $125M; accelerates air taxi launch

Joby Aviation, Inc.

Up to $125M total consideration: $80M at closing, $10M holdback, $35M earn-outs (EBITDA + retention).
Acquisition includes Blade's 12 urban terminals (JFK, Newark, Manhattan heliports) and brand; 50,000 passengers in 2024.
Blade CEO Rob Wiesenthal to remain leading business as a JOBY subsidiary; medical division renamed Strata Critical Medical.
Joby becomes preferred VTOL partner for Blade's organ transport; transaction expected to close in weeks.
Deal provides immediate infrastructure and customer base, reducing Joby's commercialization costs ahead of Dubai launch.

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