Beta Technologies sets terms for US IPO

Electric aircraft maker Beta Technologies set the terms for its upcoming initial public offering in the United States on Wednesday.

The Vermont-based company plans to offer 25 million shares priced between $27 and $33 each and is seeking to raise up to $825 million.

Beta designs, manufactures and sells high-performance electric aircraft, advanced electric propulsion systems, charging systems and components.

The company filed for an initial public offering in late September and reported a net loss of $25.57 per share for the six months ended June 30, compared with $19.38 per share a year earlier.

It will list on the New York Stock Exchange under the ticker symbol "BETA".