NEW YORK, November 02, 2021–(Company WIRE)–Reinvent Technological know-how Partners Y (“RTPY”) (NASDAQ: RTPY), a distinctive goal acquisition corporation that usually takes a “enterprise funds at scale” approach to investing, declared that at its Amazing General Conference of Shareholders held nowadays, RTPY shareholders voted to approve and adopt the earlier declared enterprise blend arrangement with self-driving firm Aurora.
The formal outcomes of the vote will be bundled in a Present-day Report on Kind 8-K to be submitted by RTPY with the Securities and Trade Fee (the “SEC”).
The small business mix is envisioned to shut on November 3, 2021, matter to the satisfaction or waiver of customary closing problems. On the closing of the business mix, RTPY will adjust its title to Aurora Innovation, Inc., and popular stock and warrants of the blended enterprise are expected to commence trading on November 4, 2021 on Nasdaq beneath the ticker symbols “AUR” and “AUROW,” respectively.
Aurora is building the engineering and company to commercialize self-driving at scale the two in autonomous trucking and passenger mobility. Aurora’s market-primary associates consist of Toyota, Uber, Volvo and PACCAR. The gross proceeds becoming raised in this transaction furthermore money on the equilibrium sheet as of November 1, 2021, equals approximately $1.8 billion. Proceeds from the company mix characterize the greatest-at any time autonomous vehicle or robotics corporation main raise in a go-public transaction. This further capital is anticipated to fund Aurora outside of the business start of Aurora Horizon and the Aurora Driver in 2023, and into 2024.
About Aurora
Started in 2017 by specialists in the self-driving marketplace, Aurora is on a mission to supply the benefits of self-driving technological know-how safely and securely, swiftly, and broadly. To go each people today and items, the enterprise is setting up the Aurora Driver, a platform that brings jointly software program, components and information providers to autonomously run passenger automobiles, light-weight industrial vehicles, and weighty-duty trucks. Aurora is backed by Sequoia Funds, Baillie Gifford, cash and accounts recommended by T. Rowe Price Associates, amid other folks, and is partnered with business leaders including Toyota, Uber, Volvo, and PACCAR. Aurora exams its automobiles in the Bay Location, Pittsburgh, and Dallas. The company has offices in all those spots as well as in Bozeman, MT Seattle, WA Louisville, CO and Wixom, MI. To learn a lot more, visit www.aurora.tech.
About Reinvent Know-how Associates Y
Reinvent Technological innovation Companions Y is a specific goal acquisition corporation started by Mark Pincus, Michael Thompson, and Reid Hoffman. Reinvent Know-how Companions Y was formed to assistance a know-how organization to innovate and reach entrepreneurship at scale by leveraging its team’s functioning experience as founders of legendary technology businesses, their expertise making corporations as advisors and board members, and the capital lifted in its initial community giving.
Cautionary Assertion With regards to Forward Seeking Statements
This press release has certain ahead-searching statements inside of the indicating of the federal securities legal guidelines with regard to the proposed transaction involving Reinvent Technologies Partners Y (“RTPY”) and Aurora Innovation, Inc. (“Aurora”). These forward-seeking statements usually are discovered by the words “believe that,” “challenge,” “hope,” “anticipate,” “estimate,” “intend,” “technique,” “foreseeable future,” “chance,” “prepare,” “may well,” “ought to,” “will,” “would,” “will be,” “go on,” “very likely,” and related expressions. Ahead-wanting statements are predictions, projections and other statements about upcoming occasions that are centered on existing expectations and assumptions and, as a result, are subject matter to pitfalls and uncertainties. A lot of things could bring about true long term situations to differ materially from the forward-seeking statements in this doc, including but not constrained to: (i) the risk that the proposed transaction may well not be concluded in a timely method or at all, which may possibly adversely have an impact on the selling price of RTPY’s securities, (ii) the hazard that the proposed transaction may possibly not be concluded by RTPY’s company mixture deadline and the possible failure to acquire an extension of the enterprise blend deadline if sought by RTPY, (iii) the failure to fulfill the situations to the consummation of the proposed transaction set forth in the Arrangement and Strategy of Merger, dated as of July 14, 2021 (the “Merger Arrangement”), by and amid RTPY, Aurora and RTPY Merger Sub Inc., a Delaware company and a direct wholly owned subsidiary of RTPY, (iv) the incapacity to comprehensive the PIPE investment decision in relationship with the proposed transaction, (v) the event of any event, adjust or other circumstance that could give rise to the termination of the Merger Settlement, (vi) the result of the announcement or pendency of the proposed transaction on Aurora’s business enterprise associations, functioning outcomes and small business typically, (vii) threats that the proposed transaction disrupts present-day designs and functions of Aurora and opportunity problems in Aurora personnel retention as a end result of the proposed transaction, (viii) the consequence of any authorized proceedings or other disputes that may perhaps be instituted in opposition to Aurora or versus RTPY related to the Merger Arrangement or the proposed transaction or normally, (ix) the potential to manage the listing of RTPY’s securities on a nationwide securities trade, (x) the rate of RTPY’s securities may possibly be unstable thanks to a variety of factors, like alterations in the aggressive and highly regulated industries in which RTPY designs to function or Aurora operates, variations in running functionality across competition, improvements in guidelines and restrictions impacting RTPY’s or Aurora’s business and modifications in the mixed cash construction, (xi) the capacity to apply business programs, forecasts, and other expectations immediately after the completion of the proposed transaction, and determine and recognize supplemental chances, and (xii) the threat of downturns and a switching regulatory landscape in the very aggressive self-driving field. The foregoing list of aspects is not exhaustive. You need to thoroughly think about the foregoing things and the other hazards and uncertainties explained in the “Risk Aspects” segment of RTPY’s registration assertion on Type S-1 (File No. 333-253075), its Quarterly Reports on Kind 10-Q for the durations ended March 31, 2021 and June 30, 2021, respectively, the registration assertion on Variety S-4 (File No. 333-257912) and other files filed by RTPY from time to time with the SEC. These filings establish and address other vital pitfalls and uncertainties that could trigger true events and success to differ materially from people contained in the forward-looking statements. Forward-hunting statements discuss only as of the day they are created. Visitors are cautioned not to set undue reliance on ahead-on the lookout statements, and RTPY and Aurora assume no obligation and do not intend to update or revise these ahead-wanting statements, no matter whether as a result of new information and facts, future gatherings, or in any other case. Neither RTPY nor Aurora presents any assurance that both RTPY or Aurora or the mixed enterprise will reach its anticipations.
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Contacts
Aurora:
Khobi Brooklyn
[email protected]
(415) 699-3657
Reinvent Technologies Associates Y:
Ed Trissel / Scott Bisang
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
