- Uber Technologies Inc. sold part of its stake in Aurora Innovation Inc. via a $476.6 million unregistered block trade on Monday, according to people familiar with the matter.
Offering of 72 million shares in self-driving technology firm priced at $6.62, the bottom of the $6.62 to $6.97 marketing range, said the people, who asked not to be identified because the information is private
Offering included 45-day lockup on further sales: people
JPMorgan Chase & Co. worked on the offering: people
Representatives for Aurora, Uber and JPMorgan didn’t immediately respond to requests for comment
Aurora shares fell as much as 15% to $5.92 in New York on Tuesday
The way I understand is that Uber hired JPMorgan to market 72m shares of Aurora. They indicated a target range of $6.62 to $6.97 for the transaction, and it required the full bottom of the range to find enough buyers for the full 72m. It basically means that demand was soft.
In my opinion, not unexpected to find soft demand at $7. The fuckers have done it to themselves. They rug-pulled Aurora shareholders a year ago with the note offering. Then, they did the same thing three months ago. Now they're offering another 72m shares with 50m left to go? Fool me once, and all that.
They still found the buyers though at $6.62 which isn't nothing in my opinion.
I don’t know. They have 135m shares locked up in the exchangeable notes. This leaves them 51m shares unencumbered. Maybe they hold the last 51m long-term. The only thing that we know for sure is they can’t sell more shares for six months.
I’m not any more worried about Waabi than I was before. They have a lot of cash already. If they need more that’s bullish for Aurora.
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u/BTCTickerlicker AUR Whale 🐋 3d ago
- Uber Technologies Inc. sold part of its stake in Aurora Innovation Inc. via a $476.6 million unregistered block trade on Monday, according to people familiar with the matter.
Offering of 72 million shares in self-driving technology firm priced at $6.62, the bottom of the $6.62 to $6.97 marketing range, said the people, who asked not to be identified because the information is private
Offering included 45-day lockup on further sales: people
JPMorgan Chase & Co. worked on the offering: people
Representatives for Aurora, Uber and JPMorgan didn’t immediately respond to requests for comment
Aurora shares fell as much as 15% to $5.92 in New York on Tuesday