Reinvent Technology Partners Y (RTPY) has announced an Extraordinary General Meeting on November 2, 2021, to vote on its proposed business combination with self-driving technology company Aurora. Only RTPY shareholders on record as of September 30, 2021, can vote. If approved, the transaction is expected to close on November 3, 2021, with the new company trading under the ticker symbols AUR and AUROW from November 4, 2021. Shareholders are encouraged to vote promptly to ensure representation.
Aurora's leadership will present at several key industry events this week, including the National Transportation Safety Board (NTSB) and the Scale TransformX. The company, planning to merge with Reinvent Technology Partners Y (RTPY), is set to list on Nasdaq as AUR by year-end. CEO Chris Urmson will discuss self-driving tech at an Axios event, while VP of Safety Nat Beuse participates in an NTSB panel. Additionally, SVP of Software Engineering Yanbing Li will address ML development at Scale TransformX. Aurora aims to enhance safety and innovation in autonomous driving.
The self-driving company Aurora, set to merge with Reinvent Technology Partners Y (RTPY), shares updates on its technology and business model as the merger progresses. The company expects to list on Nasdaq with the ticker symbol AUR by year-end. Key events include a Reddit AMA featuring CEO Chris Urmson and board member Reid Hoffman, and presentations by executives at significant industry conferences, discussing safety and regulatory approaches to driverless technology. This merger aims to enhance Aurora's operational capabilities in the autonomous vehicle sector.
Aurora hosted its "Aurora Illuminated" event in Palmer, Texas, showcasing its autonomous driving technology and commercialization path. Attendees experienced the Aurora Driver in action during autonomous rides along Interstate 45. The company is merging with Reinvent Technology Partners Y (RTPY) and expects to be listed on Nasdaq as AUR. Aurora has driven over 4.5 million on-road miles and is advancing its autonomous trucking business, expected to launch by late 2023. The event featured partnerships with major manufacturers like PACCAR and Volvo, emphasizing Aurora's focus on safety and technological innovation.
Aurora has announced a definitive business combination with Reinvent Technology Partners Y (NASDAQ: RTPY), resulting in a new entity named Aurora Innovation, Inc., projected to be publicly traded on Nasdaq under the ticker AUR. The transaction holds an equity value of $11 billion and is supported by a $1 billion PIPE investment from notable firms including Uber and Sequoia Capital. Aurora aims to deploy self-driving technology, primarily focusing on the $700 billion trucking market, with expectations of rapid expansions into last-mile delivery and ride-hailing.