* Reinvent Technology Companions Y (RTPY) expects to complete its enterprise blend, issue to shareholder acceptance, on November 3, 2021
* Buyers in the PIPE include Baillie Gifford, resources and accounts managed by Counterpoint World wide (Morgan Stanley), Fidelity Administration and Study LLC, resources and accounts encouraged by T. Rowe Price tag Associates, Inc., PACCAR, Volvo, and Uber
* Proceeds from the small business blend represent the largest-at any time Autonomous Car or Robotics business key raise in a go-public transaction
NEW YORK, November 01, 2021–(Small business WIRE)–Reinvent Technological innovation Associates Y (“RTPY”) (NASDAQ: RTPY) these days declared that issue to RTPY shareholder acceptance, it expects to total its previously introduced company mix with self-driving corporation Aurora on November 3, 2021.
Aurora is creating the technological innovation and organization to commercialize self-driving at scale equally in autonomous trucking and passenger mobility. Aurora’s business-main companions include Toyota, Uber, Volvo and PACCAR. The gross proceeds becoming lifted in this transaction moreover hard cash on the balance sheet as of November 1, 2021, equals around $1.8 billion. This more funds is anticipated to fund Aurora past the commercial start of Aurora Horizon and the Aurora Driver in 2023, and into 2024.
“We are delighted with the trader fascination and help for this transaction, and are excited about the future of Aurora’s enterprise,” explained Mark Pincus, Co-Founder and Director of Reinvent Know-how Companions Y. “We believe that Aurora will be the 1st to commercialize self-driving technologies at scale for the U.S. trucking and passenger transportation markets thanks to its planet-course group, industry-major technological innovation and field-main partnerships.”
“On behalf of the total Aurora crew, we are inspired by the early support for this transaction and search forward to accelerating our progress towards commercializing our self-driving technological innovation with the help of our partners and the Reinvent team,” stated Chris Urmson, Co-Founder and Chief Govt Officer of Aurora. “On the closing, this new cash will further more guidance our timeline towards providing the technology to make the movement of merchandise and folks safer, extra dependable, and successful.”
RTPY also announced now that the deadline for shareholders to withdraw any election to have their shares redeemed in relationship with the Enterprise Blend will be 5:00 p.m. Eastern Time on Tuesday, November 2, 2021. Shareholders who desire to withdraw a redemption ask for really should speak to RTPY’s transfer agent, Continental Inventory Transfer & Trust Corporation, by email at [email protected].
The company mix, if accepted by RTPY shareholders, is expected to close on November 3, 2021. On the closing of the organization mix, RTPY will adjust its title to Aurora Innovation, Inc., and typical stock and warrants of the combined enterprise are envisioned to start buying and selling on November 4, 2021 on Nasdaq less than the ticker symbols “AUR” and “AUROW,” respectively.
To invest in Aurora, individuals can obtain general public shares of RTPY and keep them via the closing of the business mix, at which time their RTPY shares will automatically convert to popular stock of the publicly mentioned Aurora on a 1:1 foundation.
The Extraordinary Common Meeting of Shareholders is scheduled to take place on November 2, 2021 at 12:00 p.m. ET. Free copies of the proxy statement and all pertinent files submitted or that will be submitted with the U.S Securities and Trade Fee (“SEC”) by RTPY (when accessible) can also be acquired by shareholders by way of the web page taken care of by the SEC at http://www.sec.gov. The files filed by RTPY with the SEC could also be acquired free of charge of cost at RTPY’s internet site at https://y.reinventtechnologypartners.com/investor-relations or by created request to: Reinvent Technologies Partners Y, 215 Park Avenue, Floor 11, New York, NY 10003.
About Aurora
Established in 2017 by industry experts in the self-driving field, Aurora is on a mission to provide the rewards of self-driving technological know-how safely and securely, quickly, and broadly. To transfer both of those persons and products, the organization is developing the Aurora Driver, a system that provides alongside one another software program, hardware and details solutions to autonomously function passenger autos, gentle industrial motor vehicles, and weighty-obligation trucks. Aurora is backed by Sequoia Capital, Baillie Gifford, cash and accounts encouraged by T. Rowe Rate Associates, amongst many others, and is partnered with sector leaders together with Toyota, Uber, Volvo, and PACCAR. Aurora tests its motor vehicles in the Bay Space, Pittsburgh, and Dallas. The company has offices in those places as perfectly as in Bozeman, MT Seattle, WA Louisville, CO and Wixom, MI. To learn a lot more, go to www.aurora.tech.
About Reinvent Technological know-how Partners Y
Reinvent Know-how Partners Y is a unique purpose acquisition organization founded by Mark Pincus, Michael Thompson, and Reid Hoffman. Reinvent Engineering Partners Y was shaped to help a technological know-how business enterprise to innovate and realize entrepreneurship at scale by leveraging its team’s running experience as founders of legendary know-how organizations, their encounter developing firms as advisors and board customers, and the cash elevated in its original general public providing.
Cautionary Assertion Concerning Ahead Seeking Statements
This push launch contains sure ahead-hunting statements within the that means of the federal securities legislation with respect to the proposed transaction among Reinvent Know-how Companions Y (“RTPY”) and Aurora Innovation, Inc. (“Aurora”). These forward-wanting statements normally are determined by the terms “consider,” “challenge,” “be expecting,” “anticipate,” “estimate,” “intend,” “method,” “upcoming,” “option,” “approach,” “may well,” “should really,” “will,” “would,” “will be,” “carry on,” “likely,” and similar expressions. Ahead-seeking statements are predictions, projections and other statements about upcoming functions that are dependent on present-day anticipations and assumptions and, as a final result, are subject to pitfalls and uncertainties. Lots of variables could result in true foreseeable future occasions to vary materially from the forward-searching statements in this document, together with but not restricted to: (i) the risk that the proposed transaction may possibly not be concluded in a well timed manner or at all, which could adversely affect the cost of RTPY’s securities, (ii) the possibility that the proposed transaction may perhaps not be done by RTPY’s enterprise mixture deadline and the likely failure to receive an extension of the company mix deadline if sought by RTPY, (iii) the failure to fulfill the circumstances to the consummation of the proposed transaction, which includes the adoption of the Settlement and Program of Merger, dated as of July 14, 2021 (the “Merger Arrangement”), by and among the RTPY, Aurora and RTPY Merger Sub Inc., a Delaware corporation and a immediate wholly owned subsidiary of RTPY, by the shareholders of RTPY, the fulfillment of the minimum amount cash situation next redemptions by RTPY’s general public shareholders and the receipt of selected governmental and regulatory approvals, (iv) the lack of ability to total the PIPE expenditure in connection with the proposed transaction, (v) the occurrence of any event, transform or other circumstance that could give rise to the termination of the Merger Arrangement, (vi) the effect of the announcement or pendency of the proposed transaction on Aurora’s company interactions, operating effects and organization frequently, (vii) pitfalls that the proposed transaction disrupts recent strategies and functions of Aurora and opportunity troubles in Aurora worker retention as a end result of the proposed transaction, (viii) the final result of any authorized proceedings or other disputes that may be instituted from Aurora or in opposition to RTPY relevant to the Merger Arrangement or the proposed transaction or normally, (ix) the means to preserve the listing of RTPY’s securities on a nationwide securities exchange, (x) the cost of RTPY’s securities may well be unstable due to a assortment of aspects, like improvements in the aggressive and hugely regulated industries in which RTPY ideas to run or Aurora operates, variations in operating efficiency throughout competitors, modifications in guidelines and restrictions affecting RTPY’s or Aurora’s business and changes in the blended funds construction, (xi) the skill to put into practice small business designs, forecasts, and other anticipations soon after the completion of the proposed transaction, and establish and know extra chances, and (xii) the threat of downturns and a transforming regulatory landscape in the extremely competitive self-driving market. The foregoing checklist of components is not exhaustive. You really should thoroughly think about the foregoing variables and the other challenges and uncertainties described in the “Danger Factors”part of RTPY’s registration assertion on Type S-1 (File No. 333-253075), its Quarterly Experiences on Kind 10-Q for the periods finished March 31, 2021 and June 30, 2021, respectively, the registration assertion on Variety S-4 mentioned below and other paperwork submitted by RTPY from time to time with the SEC. These filings establish and deal with other important dangers and uncertainties that could induce true gatherings and results to vary materially from those contained in the ahead-seeking statements. Ahead-searching statements talk only as of the date they are built. Visitors are cautioned not to put undue reliance on forward-wanting statements, and RTPY and Aurora think no obligation and do not intend to update or revise these ahead-seeking statements, irrespective of whether as a consequence of new info, long run functions, or usually. Neither RTPY nor Aurora provides any assurance that either RTPY or Aurora or the merged enterprise will attain its expectations.
Extra Data and Wherever to Uncover It
This push launch relates to a proposed transaction amongst RTPY and Aurora. This press launch is not a proxy, consent or authorization with regard to any securities or in regard of the proposed transaction and does not constitute an offer you to market or exchange, or the solicitation of an supply to acquire or trade, any securities, nor shall there be any sale of securities in any jurisdiction in which these kinds of offer you, sale or trade would be illegal prior to registration or qualification less than the securities regulations of any these jurisdiction. RTPY has filed a registration assertion on Kind S-4 with the SEC (333-257912), which contains a prospectus and proxy assertion of RTPY, referred to as a proxy statement/prospectus. RTPY has mailed a definitive proxy statement/prospectus and other related paperwork to its shareholders of history as of September 30, 2021, the document date proven for the incredible common conference of shareholders relating to the proposed transaction in between RTPY and Aurora. RTPY also will file other files relating to the proposed transaction with the SEC. In advance of producing any voting or investment determination, investors and stability holders of RTPY are urged to read the registration statement, the proxy assertion/prospectus and all other related files submitted or that will be filed with the SEC in relationship with the proposed transaction because they will contain critical info about the proposed transaction. Buyers and stability holders will be able to attain cost-free copies of the registration statement, the proxy statement/prospectus and all other suitable paperwork submitted or that will be filed with the SEC by RTPY by the website maintained by the SEC at www.sec.gov. The files filed by RTPY with the SEC also may possibly be obtained cost-free of charge at RTPY’s web site at https://y.reinventtechnologypartners.com or on prepared request to c/o Reinvent Funds, 215 Park Avenue, Flooring 11 New York, NY.
Check out supply edition on businesswire.com: https://www.businesswire.com/news/household/20211101005550/en/
Contacts
MEDIA:
Aurora:
Khobi Brooklyn
[email protected]
(415) 699-3657
Reinvent Technologies Companions Y:
Ed Trissel / Scott Bisang
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
