Joby Aviation (JOBY) Stock Falls 6% After $500M Resonant Sciences Acquisition – Here’s Why
TLDR
- Joby Aviation agreed to acquire defense tech firm Resonant Sciences for ~$500 million ($450M cash, $50M stock)
- JOBY stock fell 6.5% in premarket trading on the news
- Joby also launched a new at-the-market equity program worth up to $750 million, raising dilution concerns
- Upon closing, Resonant will become Joby’s dedicated defense division; commercial air taxi operations remain separate
- JPMorgan has an Underweight rating on JOBY with a $7 price target, implying 32% downside
Joby Aviation is making a big move into defense. The air taxi company announced Tuesday it will acquire Ohio-based Resonant Sciences for approximately $500 million.
JOBY stock fell 6.5% in premarket trading following the announcement, before paring losses to trade up roughly 1% on the day.
The deal will be funded with $450 million in cash and $50 million in Joby common stock. It is expected to close in the first half of 2027.
Resonant Sciences designs, manufactures, and delivers advanced radio-frequency and mission systems for U.S. national security customers. Once the deal closes, Resonant will become Joby’s dedicated defense business unit.
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