AUR - Aurora Innovation shares fall on proposed $200M stock offering
2023-07-18 16:42:42 ET
-
Aurora Innovation ( NASDAQ: AUR ) plans to raise $200 million through an underwritten public offering of its Class A common stock, the company said Tuesday.
-
The underwriters will have a 30-day option to purchase up to an additional 15% of the shares to be sold in the offering.
-
The pricing terms of the public offering were not disclosed.
-
All of the shares in the offering will be sold by the company.
-
Concurrently, the company also entered into a stock purchase agreement with certain parties to issue and sell about $600 million of its Class A shares through a private placement.
-
The concurrent private placement is expected to close on July 21, 2023, and is not conditioned on the closing of the public offering.
-
Shares -11.2% at $2.86 after hours.
For further details see:
Aurora Innovation shares fall on proposed $200M stock offering