Reinvent Technology Partners

SPAC shareholders approve public debut for self-driving startup Aurora Innovation

Shareholders in special purpose acquisition company Reinvent Technology Partners Y on Tuesday approved a business combination with self-driving startup Aurora Innovation that expects to see Aurora trading on the Nasdaq as soon as Thursday.

The completion of the SPAC, including Securities and Exchange Commission review, took just under four months, among the fastest SPAC merger completions ever. The business combination is expected to close Wednesday, whereupon Aurora will receive approximately...

https://www.freightwaves.com/news/spac-shareholders-approve-public-debut-for-self-driving-startup-aurora-innovation

Coming attractions: 2 autonomous trucking companies begin trading in November

Aurora Innovation and Embark Trucks expect to conclude their business combinations in early November with shell companies created to bring the autonomous trucking software startups to the public markets.

Filings with the Securities and Exchange Commission show Aurora would begin trading Nov. 4 and Embark on Nov. 9. Aurora and Embark merged with special purpose acquisition companies within weeks of each other in June and July.

The SPAC sponsor of a third autonomous trucking company, Plus, on Sept....

https://www.freightwaves.com/news/coming-attractions-2-autonomous-trucking-companies-begin-trading-in-november

Aurora closes in on production version of self-driving truck technology

Aurora Innovation developed a Level 4 autonomous truck back in 2018, but it didn’t really focus on commercial vehicles until 2020. Now, with Volvo and Peterbilt in line for its self-driving system, Aurora is closing in on a production-intent version.

The Mountain View, California-based company is making the most of its own Aurora Driver system and using Uber ATG software it acquired in December as part of Uber’s $400 million investment in exchange for 26% equity. For years, Aurora and Uber ATG...

https://www.freightwaves.com/news/aurora-closes-in-on-production-version-of-self-driving-truck-technology

PACCAR, Volvo invest in self-driving tech company Aurora’s $10.6B SPAC

PACCAR Inc. and Volvo Group are among investors in a special purpose acquisition company (SPAC) that plans to bring self-driving technology company Aurora Innovation public at a $10.6 billion enterprise valuation, the second highest of four startups seeking to trade on public markets.

Aurora, which has development partnerships with PACCAR (NASDAQ: PCAR) brands Kenworth Trucks and Peterbilt Motors and with Sweden’s Volvo Group, will pursue getting autonomous trucks on the road before ride-hailing...

https://www.freightwaves.com/news/paccar-volvo-invest-in-self-driving-tech-company-auroras-106b-spac