Paccar, Uber and Volvo Group are taking part in a $1bn PIPE supporting the autonomous driving technology developer’s reverse merger with Reinvent Technology Partners.
Aurora, a US-based self-driving technology developer backed by multiple corporate investors, has agreed a reverse merger with special purpose acquisition company Reinvent Technology Partners Y.
The combined company will have a $13bn pro forma implied market capitalisation and will take on Reinvent’s listing on the Nasdaq Capital Market, which was secured through an $850m initial public offering in March this year. It is sponsored by investment firm Reinvent Capital.
The transaction includes a $1bn private investment in public equity…
