Joby Aviation lands $180M equity investment from returning backer Baillie Gifford

Baillie Gifford is buying nearly 44 million newly issued shares in Joby Aviation, a purchase that will provide a $180 million injection of capital into the company as it continues to develop all-electric aircraft for a commercial passenger service.
Joby Aviation said Wednesday as part of its first-quarter earnings report that it will sell 43,985,681 to the investing group at a price of $4.10 per share, a move that bolsters its balance sheet amid a stormy economic environment. The stock sale is expected to close May 5. 
Joby Aviation shares closed Wednesday 1.49% higher at $4.10.
Notably, Joby

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