USX - Self-driving truck startup TuSimple is said to raise $1.35B in IPO

Self-driving truck startup TuSimple (TSP) is said to have raised $1.35B in an IPO, pricing the shares at $40, above an earlier range.TuSimple and a selling shareholder sold 34M shares at $40 each, above an estimated price of $35-$39, according to a Bloomberg report.The company is backed strategic investors, including Volkswagen AG’s (VLKAF) heavy-truck business The Traton Group, Navistar (NAV) Goodyear (GT), U.S. Xpress (USX), Nvidia (NVDA) and United Parcel Service (UPS).Last week, TuSimple detailed the plans for its IPO.

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Self-driving truck startup TuSimple is said to raise $1.35B in IPO