Self-driving truck startup Aurora Innovation to sell up to $420M in shares ahead of commercial launch

Quick Summary:

In Q2 2024, Aurora spent $198 million, which is a direct loss because the startup isn’t yet pulling in any revenue.

As of June 30, 2024, Aurora had $402 million in cash and cash equivalents and $618 million in short-term investments.

The underwriters have committed to buying the shares from Aurora at $3.4830 per share, which is slightly less than the public offering price to account for their fees and compensation.

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Article Details

Author / Journalist: Rebecca Bellan

Category: Technology

Markets: United StatesChinaIndia

Topics: Fundraising Startups Transportation Aurora Innovation

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 16:34:08 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1200 words

Reading Time: 7 minutes read

Sentences: 53 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 21888200

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