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
Further company coverage:
((Reuters.briefs@thomsonreuters.com;)
* 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
Further company coverage:
((Reuters.briefs@thomsonreuters.com;)