AUR - Aurora Innovation upsizes stock offering to raise $220M

2023-07-19 09:39:27 ET

• Aurora Innovation ( NASDAQ: AUR ) has upsized its underwritten public offering to raise $220 million from $200 million, the company said Wednesday.
• The company said it will offer 73,333,333 Class A shares at $3.00 per share.
• The company has also granted the underwriters a 30-day option to purchase up to an additional 10,999,999 Class A shares.
• Concurrently, the company entered into a private placement agreement with certain parties to issue and sell 222,222,216 Class A shares at $2.70 apiece to raise $600 million.
• The concurrent private placement is expected to close on July 21, 2023, and is not conditioned on the closing of the public offering.
• If the public offering and private placement are completed, the company would receive about $820 million in proceeds.
• Press Release .

For further details see: