Aurora Prices $420M Upsized Public Offering Of 116,666,667 Shares Of Its Class A Common Stock At $3.60 Per Share
Portfolio Pulse from Benzinga Newsdesk
Aurora Innovation, Inc. (NASDAQ:AUR) has announced the pricing of its upsized public offering of 116,666,667 shares of Class A common stock at $3.60 per share, aiming to raise approximately $420 million. The offering is expected to close on or about August 2, 2024.
August 01, 2024 | 12:01 pm
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Aurora Innovation has announced an upsized public offering of 116,666,667 shares at $3.60 per share, aiming to raise $420 million. This move could lead to short-term downward pressure on the stock price due to dilution concerns.
The announcement of a large public offering often leads to concerns about dilution among existing shareholders, which can result in short-term downward pressure on the stock price. The offering is substantial, and the market may react negatively until the additional shares are absorbed.
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