stock sales

Buying and selling in autonomous trucking developer Aurora Innovation

In a week that saw the field of viable autonomous trucking developers shrink again — more on Waymo Via waving buh-bye for now below — Aurora Innovation (NASDAQ: AUR) disclosed that  T. Rowe Price Investment Management Inc. purchased $125 million of new stock issued in a $600 million private placement. 

Uber Technologies, already a major holder of Aurora shares, added $1 million to its stake in the private placement and 24.66 million shares at $3 each — worth about $74 million — in Aurora’s $220...

https://www.freightwaves.com/news/buying-and-selling-in-autonomous-trucking-developer-aurora-innovation

Milton trial date reset for July as Nikola founder drops venue appeal

Nikola Corp. founder Trevor Milton, awaiting trial on criminal fraud charges, dropped an appeal to move the proceeding from New York to Phoenix, clearing a reset of the court date to July from next month.

Milton’s attorneys originally requested the trial be moved to April 25 from a scheduled date of April 4, but federal prosecutors objected because the courtroom of U.S. District Judge Edgardo Ramos in Manhattan is under COVID protocols that prohibit close seating.

A tentative date of July 18 was...

https://www.freightwaves.com/news/milton-trial-date-reset-for-july-as-nikola-founder-drops-venue-appeal

Milton cashes out $131M in Nikola stock, slicing dominant ownership

Indicted Nikola Corp. founder Trevor Milton is continuing to cash out his enormous holdings in the electric truck startup, collecting about $131 million in recent sales.

The amount realized from transactions reported to the Securities and Exchange Commission on Tuesday covered four sales totaling 11.7 million of Milton’s more than 63 million shares. He now holds slightly less than 52 million shares, or about 12.8% of the company’s 403.3 million outstanding shares as of Nov. 4. A year ago, Milton...

https://www.freightwaves.com/news/milton-cashes-out-131m-in-nikola-stock-slicing-dominant-ownership

Lordstown Motors may sell its plant to Taiwan’s Foxconn for $230M

Taiwan’s Foxconn would pay Lordstown Motors Corp. $230 million to purchase the massive 6.2 million-square-foot assembly complex it acquired from General Motors if LMC agrees to make Foxconn the contract manufacturer of its electric pickup truck.

The nonbinding agreement was announced late Thursday. A definitive agreement is expected by Oct. 31, according to The Wall Street Journal. It would allow LMC to keep certain components and intellectual property while the companies work together on the...

https://www.freightwaves.com/news/lordstown-motors-may-sell-its-plant-to-taiwans-foxconn-for-230m

Whittling away: Indicted Nikola founder dumps 7M more shares

Indicted Nikola Corp. founder Trevor Milton is continuing to reduce his stake in the company, selling 7 million more shares over the past week, according to a Securities and Exchange Commission filing on Friday.

Sales over the three days brought nearly $77 million on top of $71.5 million for another 7 million shares sold six days before his July 29 indictment on federal fraud charges.

The government alleges Milton tried to enrich himself by inflating the value of company shares through false and...

https://www.freightwaves.com/news/whittling-away-indicted-nikola-founder-dumps-7m-more-shares

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