Capital raising

Nikola’s cash position improves but losses widen in Q2

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Nikola Corp. added $107 million in unrestricted cash to its balance sheet from asset and stock sales...

https://www.freightwaves.com/news/nikolas-cash-position-improves-but-losses-widen-in-q2

Aurora Innovation raises $820M in fresh capital

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Aurora Innovation has raised $820 million in new capital. That will get the autonomous trucking...

https://www.freightwaves.com/news/aurora-innovation-raises-820m-in-fresh-capital

Electric work truck startup Atlis attracts $32.6M from nearly 29,000 investors

A three-quarters view of the flat-floor electric chassis that makes up the Atlis XP platform sitting in desert scrub

Atlis Motor Vehicles is trying to disrupt the electric work truck market by developing its own chassis and the batteries and motors to drive it. 

And it is taking a disruptive path to becoming a public company.

About 29,000 investors have purchased $32.6 million in private shares of the Mesa, Arizona-based company. Atlis holds the ticker symbol AMV on the Nasdaq Global Market. And that’s where the shares will trade when the listing is activated sometime in the next few months. 

The interior of the...

https://www.freightwaves.com/news/electric-work-truck-startup-taps-small-investors-for-32-6m

Nikola cuts deal for $200M through sale of senior debt

Nikola workers move battery pack into place for Nikola electric truck.

Nikola Corp. cut a deal for $200 million in cash with an investor, offering convertible notes that can be paid off in cash or discounted shares. The startup is rounding up new money for the production ramp of electric trucks at a new plant where it provided tours last week.

The startup also tapped an equity line of credit with Tumim Stone Capital for an additional $196 million. It exchanged about 28.8 million new shares of stock. That would be the proceeds based on Monday’s $7 closing price of...

https://www.freightwaves.com/news/nikola-cuts-deal-for-200m-through-sale-of-senior-debt

Nikola wants to add 200M common shares that could raise $1.5B

Nikola Corp. will ask shareholders to dilute their holdings in the startup electric truck manufacturer by authorizing 200 million new shares, proceeds from which could scale electric truck operations or fight off a hostile takeover attempt.  

The putative poison pill defense could ward off acquirers aware that Nikola shares are cheap, closing Friday at $7.52 after touching $93 in the days after its SPAC merger in June 2020. 

Allegations of fraud, which led Nikola to agree to pay a $125 million...

https://www.freightwaves.com/news/nikola-wants-to-add-200m-common-shares-that-could-raise-15b

Waymo hauls in $2.5B from current investors for autonomous expansion

Self-driving ride-hailing and autonomous trucking software startup Waymo raised $2.5 billion of new funding from original investors and newcomer Tiger Global.

The subsidiary of Alphabet Inc. (NASDAQ: GOOGL) has grown from the original Google self-driving car program to include autonomous ride hailing in the Phoenix area and autonomous software development for commercial trucks including Daimler Trucks and United Parcel Service (NYSE: UPS).

Waymo Via, the autonomous trucking software unit, is...

https://www.freightwaves.com/news/waymo-hauls-in-25b-from-current-investors-for-autonomous-expansion

Cabless pod developer Einride raises $110M from new and existing investors

Sweden-based Einride, whose driverless and cabless freight pods run on electricity, has raised $110 million in a Series B funding round.

First-time investors include Soros Fund Management LLC; Singapore’s Temasek Holdings Ltd.; Maersk Growth, the corporate venture arm of A.P. Moller – Maersk; and U.K. early-stage venture capital fund Northzone. 

Existing investors EQT Ventures, Plum Alley, Norrsken VC, Ericsson and NordicNinja VC also participated in the round. 

“With our global reach and...

https://www.freightwaves.com/news/cabless-pod-developer-einride-raises-110m-from-new-and-existing-investors

SPAC rumor mill churns over autonomous truck software developer Plus

Self-driving truck software startup Plus is reportedly in talks to merge with the same investor group that brought public electric vehicle startup Canoo Inc. (NASDAQ: GOEV), school bus maker Blue Bird Corp. (NASDAQ: BLBD) and flatbed logistics specialist Daseke Inc. (NASDAQ: DSKE).

Rumors of the Cupertino, California-based startup aligning with a special purpose acquisition company (SPAC) have circulated for months. Bloomberg reported Friday that Plus is in talks with Hennessy Capital Investment...

https://s29755.pcdn.co/news/spac-rumor-mill-churns-over-autonomous-truck-software-developer-plus

Startup Motiv gets $15M to scale electric truck component production

Motiv Power Systems can tap up to $15 million in cash from its largest shareholder as it catches up on pandemic-delayed orders for medium-duty electric truck software and power electronics.

GMAG Holdings Corp. is swapping cash for convertible notes that will grow its stake in the Foster City, California-based startup.

“Technically, it’s a loan. But it does convert into equity in the Series C round we just kicked off and plan to close by year-end,” Motiv CEO Matt O’Leary told FreightWaves.

Cash-for-...

https://s29755.pcdn.co/news/startup-motiv-gets-15m-to-scale-electric-truck-component-production