Reinvent Technology Partners Y (“RTPY”) (NASDAQ: RTPY), a
special purpose acquisition company that takes a “venture capital
at scale” approach to investing, announced that at its
Extraordinary General Meeting of Shareholders held today, RTPY
shareholders voted to approve and adopt the previously announced
business combination agreement with self-driving company
Aurora.
The formal results of the vote will be included in a Current
Report on Form 8-K to be filed by RTPY with the Securities and
Exchange Commission (the “SEC”).
The business combination is expected to close on November 3,
2021, subject to the satisfaction or waiver of customary closing
conditions. Upon the closing of the business combination, RTPY will
change its name to Aurora Innovation, Inc., and common stock and
warrants of the combined company are expected to begin trading on
November 4, 2021 on Nasdaq under the ticker symbols “AUR” and
“AUROW,” respectively.
Aurora is building the technology and business to commercialize
self-driving at scale both in autonomous trucking and passenger
mobility. Aurora’s industry-leading partners include Toyota, Uber,
Volvo and PACCAR. The gross proceeds being raised in this
transaction plus cash on the balance sheet as of November 1, 2021,
equals approximately $1.8 billion. Proceeds from the business
combination represent the largest-ever autonomous vehicle or
robotics company primary raise in a go-public transaction. This
additional capital is expected to fund Aurora beyond the commercial
launch of Aurora Horizon and the Aurora Driver in 2023, and into
2024.
About Aurora
Founded in 2017 by experts in the self-driving industry, Aurora
is on a mission to deliver the benefits of self-driving technology
safely, quickly, and broadly. To move both people and goods, the
company is building the Aurora Driver, a platform that brings
together software, hardware and data services to autonomously
operate passenger vehicles, light commercial vehicles, and
heavy-duty trucks. Aurora is backed by Sequoia Capital, Baillie
Gifford, funds and accounts advised by T. Rowe Price Associates,
among others, and is partnered with industry leaders including
Toyota, Uber, Volvo, and PACCAR. Aurora tests its vehicles in the
Bay Area, Pittsburgh, and Dallas. The company has offices in those
areas as well as in Bozeman, MT; Seattle, WA; Louisville, CO; and
Wixom, MI. To learn more, visit www.aurora.tech.
Aurora Overview
Aurora Press Kit
About Reinvent Technology Partners Y
Reinvent Technology Partners Y is a special purpose acquisition
company founded by Mark Pincus, Michael Thompson, and Reid Hoffman.
Reinvent Technology Partners Y was formed to support a technology
business to innovate and achieve entrepreneurship at scale by
leveraging its team’s operating experience as founders of iconic
technology companies, their experience building companies as
advisors and board members, and the capital raised in its initial
public offering.
Cautionary Statement Regarding Forward Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the proposed transaction between Reinvent Technology Partners Y
(“RTPY”) and Aurora Innovation, Inc. (“Aurora”). These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “continue,” “likely,” and similar
expressions. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this document, including but not limited to: (i) the
risk that the proposed transaction may not be completed in a timely
manner or at all, which may adversely affect the price of RTPY’s
securities, (ii) the risk that the proposed transaction may not be
completed by RTPY’s business combination deadline and the potential
failure to obtain an extension of the business combination deadline
if sought by RTPY, (iii) the failure to satisfy the conditions to
the consummation of the proposed transaction set forth in the
Agreement and Plan of Merger, dated as of July 14, 2021 (the
“Merger Agreement”), by and among RTPY, Aurora and RTPY Merger Sub
Inc., a Delaware corporation and a direct wholly owned subsidiary
of RTPY, (iv) the inability to complete the PIPE investment in
connection with the proposed transaction, (v) the occurrence of any
event, change or other circumstance that could give rise to the
termination of the Merger Agreement, (vi) the effect of the
announcement or pendency of the proposed transaction on Aurora’s
business relationships, operating results and business generally,
(vii) risks that the proposed transaction disrupts current plans
and operations of Aurora and potential difficulties in Aurora
employee retention as a result of the proposed transaction, (viii)
the outcome of any legal proceedings or other disputes that may be
instituted against Aurora or against RTPY related to the Merger
Agreement or the proposed transaction or otherwise, (ix) the
ability to maintain the listing of RTPY’s securities on a national
securities exchange, (x) the price of RTPY’s securities may be
volatile due to a variety of factors, including changes in the
competitive and highly regulated industries in which RTPY plans to
operate or Aurora operates, variations in operating performance
across competitors, changes in laws and regulations affecting
RTPY’s or Aurora’s business and changes in the combined capital
structure, (xi) the ability to implement business plans, forecasts,
and other expectations after the completion of the proposed
transaction, and identify and realize additional opportunities, and
(xii) the risk of downturns and a changing regulatory landscape in
the highly competitive self-driving industry. The foregoing list of
factors is not exhaustive. You should carefully consider the
foregoing factors and the other risks and uncertainties described
in the “Risk Factors” section of RTPY’s registration statement on
Form S-1 (File No. 333-253075), its Quarterly Reports on Form 10-Q
for the periods ended March 31, 2021 and June 30, 2021,
respectively, the registration statement on Form S-4 (File No.
333-257912) and other documents filed by RTPY from time to time
with the SEC. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and RTPY and Aurora assume no
obligation and do not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise. Neither RTPY nor Aurora gives any
assurance that either RTPY or Aurora or the combined company will
achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211102006367/en/
Aurora: Khobi Brooklyn press@aurora.tech (415)
699-3657
Reinvent Technology Partners Y: Ed Trissel / Scott Bisang
Joele Frank, Wilkinson Brimmer Katcher 212-355-4449
Reinvent Technology Part... (NASDAQ:RTPY)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Reinvent Technology Part... (NASDAQ:RTPY)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024