NEW YORK–(Organization WIRE)–Reinvent Technology Associates Y (“RTPY”) (NASDAQ: RTPY), a distinctive function acquisition business that will take a “venture money at scale” solution to investing, announced that at its Amazing General Assembly of Shareholders held these days, RTPY shareholders voted to approve and undertake the formerly declared organization blend agreement with self-driving business Aurora.
The official success of the vote will be incorporated in a Present Report on Type 8-K to be submitted by RTPY with the Securities and Exchange Commission (the “SEC”).
The company mixture is predicted to shut on November 3, 2021, subject matter to the fulfillment or waiver of customary closing situations. On the closing of the business enterprise mixture, RTPY will improve its identify to Aurora Innovation, Inc., and typical stock and warrants of the put together organization are predicted to start out investing on November 4, 2021 on Nasdaq below the ticker symbols “AUR” and “AUROW,” respectively.
Aurora is setting up the technological innovation and company to commercialize self-driving at scale the two in autonomous trucking and passenger mobility. Aurora’s field-major associates include things like Toyota, Uber, Volvo and PACCAR. The gross proceeds staying elevated in this transaction in addition dollars on the balance sheet as of November 1, 2021, equals approximately $1.8 billion. Proceeds from the company blend stand for the premier-ever autonomous motor vehicle or robotics enterprise main elevate in a go-public transaction. This more cash is predicted to fund Aurora further than the industrial launch of Aurora Horizon and the Aurora Driver in 2023, and into 2024.
Established in 2017 by professionals in the self-driving industry, Aurora is on a mission to supply the benefits of self-driving technological innovation securely, speedily, and broadly. To go both equally folks and products, the corporation is creating the Aurora Driver, a system that brings alongside one another application, hardware and info providers to autonomously run passenger motor vehicles, light professional autos, and major-duty vehicles. Aurora is backed by Sequoia Funds, Baillie Gifford, cash and accounts suggested by T. Rowe Price Associates, among others, and is partnered with industry leaders like Toyota, Uber, Volvo, and PACCAR. Aurora tests its vehicles in the Bay Region, Pittsburgh, and Dallas. The enterprise has offices in these spots as perfectly as in Bozeman, MT Seattle, WA Louisville, CO and Wixom, MI. To discover far more, stop by www.aurora.tech.
About Reinvent Know-how Associates Y
Reinvent Engineering Companions Y is a distinctive intent acquisition enterprise established by Mark Pincus, Michael Thompson, and Reid Hoffman. Reinvent Engineering Associates Y was fashioned to aid a technological know-how business enterprise to innovate and reach entrepreneurship at scale by leveraging its team’s running working experience as founders of legendary technological know-how organizations, their experience developing firms as advisors and board customers, and the money lifted in its first general public presenting.
Cautionary Statement About Ahead Hunting Statements
This push release contains certain forward-looking statements inside of the that means of the federal securities legislation with respect to the proposed transaction between Reinvent Engineering Associates Y (“RTPY”) and Aurora Innovation, Inc. (“Aurora”). These forward-seeking statements usually are identified by the words and phrases “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “continue,” “likely,” and identical expressions. Ahead-on the lookout statements are predictions, projections and other statements about potential situations that are based on present anticipations and assumptions and, as a result, are subject to threats and uncertainties. Quite a few aspects could cause true long term activities to differ materially from the forward-seeking statements in this doc, including but not restricted to: (i) the danger that the proposed transaction may well not be concluded in a timely fashion or at all, which may well adversely have an affect on the value of RTPY’s securities, (ii) the danger that the proposed transaction may not be accomplished by RTPY’s organization mixture deadline and the opportunity failure to obtain an extension of the business blend deadline if sought by RTPY, (iii) the failure to satisfy the problems to the consummation of the proposed transaction established forth in the Agreement and Strategy of Merger, dated as of July 14, 2021 (the “Merger Agreement”), by and between RTPY, Aurora and RTPY Merger Sub Inc., a Delaware corporation and a immediate wholly owned subsidiary of RTPY, (iv) the inability to total the PIPE expense in link with the proposed transaction, (v) the occurrence of any occasion, transform or other circumstance that could give rise to the termination of the Merger Arrangement, (vi) the result of the announcement or pendency of the proposed transaction on Aurora’s small business relationships, working effects and business enterprise typically, (vii) threats that the proposed transaction disrupts existing options and operations of Aurora and opportunity troubles in Aurora worker retention as a consequence of the proposed transaction, (viii) the consequence of any legal proceedings or other disputes that may perhaps be instituted in opposition to Aurora or towards RTPY associated to the Merger Agreement or the proposed transaction or usually, (ix) the means to keep the listing of RTPY’s securities on a nationwide securities exchange, (x) the price tag of RTPY’s securities could be unstable owing to a wide variety of components, like improvements in the aggressive and hugely regulated industries in which RTPY designs to operate or Aurora operates, variations in operating performance across competition, changes in rules and rules influencing RTPY’s or Aurora’s company and variations in the merged capital structure, (xi) the ability to put into practice organization designs, forecasts, and other anticipations immediately after the completion of the proposed transaction, and recognize and notice more options, and (xii) the danger of downturns and a modifying regulatory landscape in the really competitive self-driving market. The foregoing record of components is not exhaustive. You really should thoroughly contemplate the foregoing aspects and the other threats and uncertainties described in the “Risk Factors” area of RTPY’s registration statement on Variety S-1 (File No. 333-253075), its Quarterly Reports on Sort 10-Q for the durations ended March 31, 2021 and June 30, 2021, respectively, the registration statement on Form S-4 (File No. 333-257912) and other paperwork filed by RTPY from time to time with the SEC. These filings recognize and address other critical pitfalls and uncertainties that could lead to genuine activities and outcomes to vary materially from all those contained in the forward-hunting statements. Forward-on the lookout statements discuss only as of the date they are produced. Visitors are cautioned not to place undue reliance on ahead-searching statements, and RTPY and Aurora believe no obligation and do not intend to update or revise these forward-searching statements, whether or not as a result of new facts, upcoming situations, or if not. Neither RTPY nor Aurora offers any assurance that possibly RTPY or Aurora or the blended organization will obtain its anticipations.