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BRIEF-Aurora To Become A Public Company By Merging With Reinvent Technology Partners Y

路透社 ·  Jul 15, 2021 22:59
July 15 (Reuters) - Aurora:
   * AURORA TO BECOME A PUBLIC COMPANY BY MERGING WITH REINVENT TECHNOLOGY PARTNERS Y
   * AURORA - AURORA EXPECTED TO HAVE $2.5 BILLION IN CASH AT CLOSING
   * AURORA - RAISING NEARLY $2 BILLION FROM THE TRANSACTION INCLUDING A COMMITTED PIPE OF $1 BILLION AT A PRE-TRANSACTION EQUITY VALUE OF $11 BILLION
   * AURORA - AURORA IS EXPECTED TO LAUNCH ITS FIRST AUTONOMOUS PRODUCT AT THE END OF 2023
   * AURORA - COMBINED COMPANY WILL BE NAMED AURORA INNOVATION, INC. & COMMON STOCK EXPECTED TO BE LISTED ON NASDAQ WITH THE TICKER SYMBOL 'AUR'
   * AURORA - INVESTORS IN PIPE INCLUDE BAILLIE GIFFORD, FUNDS & ACCOUNTS MANAGED BY COUNTERPOINT GLOBAL, FUNDS & ACCOUNTS ADVISED BY T. ROWE PRICE ASSOCIATES
   * AURORA - REID HOFFMAN HAS RECUSED HIMSELF FROM DISCUSSIONS AND DECISIONS OF REINVENT’S BOARD ABOUT THE PROPOSED TRANSACTION
   * AURORA - AURORA EXPECTS THAT HOFFMAN WILL REMAIN A MEMBER OF ITS BOARD OF DIRECTORS
   * AURORA - PROPOSED TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY THE TRANSACTION COMMITTEE OF REINVENT AND THE BOARD OF DIRECTORS OF AURORA
   * AURORA - KAREN FRANCIS HAS RECUSED HERSELF FROM DISCUSSIONS OF REINVENT’S BOARD OF DIRECTORS ABOUT THE PROPOSED TRANSACTION
   * AURORA - AURORA IS ALSO EXPECTED TO SCALE RAPIDLY IN PASSENGER MOBILITY WITH THE SUPPORT OF TOYOTA AND UBER
   * AURORA - EXISTING AURORA STOCKHOLDERS ARE EXPECTED TO OWN ABOUT 84% OF THE PRO FORMA COMBINED COMPANY FOLLOWING CLOSE OF PROPOSED TRANSACTION
   * AURORA - VOLVO GROUP, PACCAR, AND UBER ARE COMMITTED INVESTORS IN PIPE

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