Self-driving technology firm Aurora Innovation said on Tuesday it plans to sell $600 million worth of class A common stock in a private placement, sending the company's shares down more than 10 per cent in after-market trading.
The company also commenced an underwritten public offering of up to $200 million of its Class A common stock. Aurora said in a regulatory filing it expects to report that it had $785 million of cash, cash equivalents and short-term investments, exclusive of restricted cash, as of June 30.Aurora on Tuesday forecast quarterly cash use of $175 million to $185 million, on average, from the third quarter of 2023 through its planned commercial launch.Source: Reuters
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: