Core Viewpoint - BETA Technologies, Inc. has priced its upsized initial public offering (IPO) at $34.00 per share, offering a total of 29,852,941 shares of Class A common stock, with an additional option for underwriters to purchase up to 4,477,941 shares [1][2]. Company Overview - BETA Technologies, Inc. is an electric aerospace company focused on designing, manufacturing, and selling high-performance electric aircraft and related systems [4]. - The company has developed its ALIA aircraft family, which includes both conventional fixed-wing electric aircraft and electric vertical takeoff and landing aircraft, having flown over 83,000 nautical miles [4]. - BETA is establishing a charging infrastructure network with more than 50 sites operational across the U.S. and Canada, supporting the electrification of aviation [4]. - The company aims to unlock aftermarket revenue opportunities through scalable enabling technologies, serving various markets including cargo, logistics, defense, passenger, and medical [4]. IPO Details - The shares are set to begin trading on the New York Stock Exchange (NYSE) under the ticker symbol "BETA" on November 4, 2025, with the offering expected to close on November 5, 2025 [2]. - Morgan Stanley and Goldman Sachs & Co. LLC are the lead book-running managers for the offering, with several other firms participating as book-running managers [3].

Summary of Surf Air Mobility Conference Call Company Overview - **Company**: Surf Air Mobility (SRFM) - **Industry**: Regional Air Mobility - **Location**: Los Angeles, California - **Key Operations**: One of the largest commuter airlines in the US by scheduled departures, and the largest US passenger operator of Cessna Caravans [1][2] Core Business Model and Strategy - **Business Segments**: - Air Mobility Business: Scheduled service and charter flight operations - Air Technology Business: Development of Surf OS (software platform) and electrification initiatives [7][11] - **Partnerships**: Collaboration with Palantir for AI-powered software and Textron for electrified aircraft technology [2][12] Industry Insights - **Market Growth**: The global regional air mobility market is projected to grow to between $75 billion and $115 billion by 2035, with the US market accounting for $15 billion to $22 billion [14] - **Electrification Impact**: Anticipated reduction in direct flying costs by 50% for all-electric powertrains and 25% for hybrid powertrains [15][40] Growth Catalysts 1. **Transformation Plan**: A four-phase plan initiated to reposition the company, with the first phase completed in 2024 [18][19] 2. **Scheduled Service Profitability**: Expected profitability in scheduled airline services by 2025 [22] 3. **Launch of Surf OS**: Commercial launch planned for 2026, targeting third-party operators [20] 4. **Electrification Initiative**: Completion of electrified powertrain certification expected by 2027 [21] Competitive Advantages - **Scale**: One of the largest commuter airlines in the US [24] - **Experience**: Over a decade in the aviation industry with extensive operational experience [24] - **Strategic Partnerships**: Exclusive relationships with Textron and Palantir [25] - **Operational Reach**: Interline agreements with major airlines, extending reach to over 430 million customers [27] Operational Performance - **Improved Metrics**: Achieved a 10% increase in controllable completion factor and a 20% increase in on-time departures and arrivals compared to fiscal year 2024 [43] - **Revenue from EAS**: Essential Air Service contracts represent 43% of total revenue, providing recurring government revenues [32] Financial Position - **Capital Structure**: Raised $50 million in a term loan and over $30 million in a registered direct offering to support transformation [48] - **Cost Management**: Streamlined operations by exiting unprofitable routes and addressing deferred maintenance [46] Future Outlook - **Market Positioning**: Positioned at the epicenter of the regional air mobility market with sustainable competitive advantages [53] - **Investment Opportunity**: Unique investment opportunity due to the company's transformation, operational improvements, and market growth potential [52][53]