Aurora announces $200M Class A common stock offering, private placement

Aurora Innovation announced that it has commenced an underwritten public offering of up to $200M of its Class A common stock. Concurrent with the proposed public offering, Aurora also entered into a common stock purchase agreement with certain existing institutional and strategic investors, entities affiliated with two of Aurora’s directors, and new institutional investors to issue and sell approximately $600M of its Class A common stock at a price per share equal to the lesser of (i) $2.70 and (ii) a 10% discount to the price per share in the underwritten public offering, through a private placement. The concurrent private placement is expected to close on July 21, 2023. The concurrent private placement is not conditioned on the closing of the public offering but is subject to other customary closing conditions.