Aurora Expected to Close Business Combination with Reinvent Technology Partners Y with Over $1.8 Billion in Proceeds and Cash On Hand
Summary
“We are pleased with the investor interest and support for this transaction, and are excited about the future of Aurora’s business,” said Mark Pincus, Co-Founder and Director of Reinvent Technology Partners Y. “Upon the closing, this new capital will further support our timeline toward delivering the technology to make the movement of goods and people safer, more reliable, and efficient.” RTPY also announced today that the deadline for shareholders to withdraw any election to have their shares redeemed in connection with the Business Combination will be 5:00 p.m. Eastern Time on Tuesday, November 2, 2021. Aurora is backed by Sequoia Capital, Baillie Gifford, funds and accounts advised by T. Rowe Price Associates, among others, and is partnered with industry leaders including Toyota, Uber, Volvo, and PACCAR. Reinvent Technology Partners Y is a special purpose acquisition company founded by Mark Pincus, Michael Thompson, and Reid Hoffman. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “continue,” “likely,” and similar expressions.