NEW YORK, November 02, 2021–(Business WIRE)–Reinvent Technological know-how Companions Y (“RTPY”) (NASDAQ: RTPY), a distinctive purpose acquisition company that can take a “venture money at scale” method to investing, declared that at its Incredible Common Conference of Shareholders held these days, RTPY shareholders voted to approve and adopt the earlier announced company mixture settlement with self-driving corporation Aurora.
The formal benefits of the vote will be incorporated in a Present-day Report on Form 8-K to be filed by RTPY with the Securities and Exchange Fee (the “SEC”).
The business blend is envisioned to shut on November 3, 2021, issue to the satisfaction or waiver of customary closing situations. Upon the closing of the small business combination, RTPY will transform its identify to Aurora Innovation, Inc., and frequent inventory and warrants of the blended organization are expected to get started investing on November 4, 2021 on Nasdaq under the ticker symbols “AUR” and “AUROW,” respectively.
Aurora is creating the technological innovation and small business to commercialize self-driving at scale both in autonomous trucking and passenger mobility. Aurora’s sector-primary associates include Toyota, Uber, Volvo and PACCAR. The gross proceeds becoming raised in this transaction moreover hard cash on the equilibrium sheet as of November 1, 2021, equals about $1.8 billion. Proceeds from the small business combination stand for the major-at any time autonomous car or robotics company most important raise in a go-public transaction. This additional capital is expected to fund Aurora over and above the business launch of Aurora Horizon and the Aurora Driver in 2023, and into 2024.
Founded in 2017 by authorities in the self-driving industry, Aurora is on a mission to provide the benefits of self-driving technologies securely, quickly, and broadly. To transfer both equally individuals and items, the firm is creating the Aurora Driver, a system that provides jointly computer software, hardware and details solutions to autonomously function passenger automobiles, light-weight business automobiles, and weighty-duty vehicles. Aurora is backed by Sequoia Cash, Baillie Gifford, cash and accounts suggested by T. Rowe Value Associates, among the other folks, and is partnered with field leaders which includes Toyota, Uber, Volvo, and PACCAR. Aurora tests its vehicles in the Bay Spot, Pittsburgh, and Dallas. The organization has offices in individuals locations as well as in Bozeman, MT Seattle, WA Louisville, CO and Wixom, MI. To find out more, visit www.aurora.tech.
About Reinvent Technological know-how Companions Y
Reinvent Engineering Partners Y is a specific reason acquisition company started by Mark Pincus, Michael Thompson, and Reid Hoffman. Reinvent Know-how Companions Y was fashioned to support a know-how business to innovate and attain entrepreneurship at scale by leveraging its team’s running expertise as founders of legendary technological innovation organizations, their working experience constructing corporations as advisors and board members, and the capital raised in its preliminary general public giving.
Cautionary Assertion Regarding Forward Hunting Statements
This press launch is made up of specified ahead-seeking statements within just the that means of the federal securities laws with respect to the proposed transaction involving Reinvent Technologies Companions Y (“RTPY”) and Aurora Innovation, Inc. (“Aurora”). These ahead-seeking statements normally are discovered by the terms “imagine,” “project,” “count on,” “foresee,” “estimate,” “intend,” “technique,” “long run,” “opportunity,” “plan,” “could,” “should really,” “will,” “would,” “will be,” “proceed,” “probable,” and related expressions. Ahead-looking statements are predictions, projections and other statements about future gatherings that are dependent on present-day anticipations and assumptions and, as a result, are topic to risks and uncertainties. Numerous things could induce true potential functions to differ materially from the ahead-searching statements in this doc, which includes but not limited to: (i) the danger that the proposed transaction may well not be completed in a timely way or at all, which could adversely have an affect on the rate of RTPY’s securities, (ii) the chance that the proposed transaction may perhaps not be completed by RTPY’s company blend deadline and the probable failure to acquire an extension of the small business mix deadline if sought by RTPY, (iii) the failure to satisfy the disorders to the consummation of the proposed transaction set forth in the Agreement and System of Merger, dated as of July 14, 2021 (the “Merger Settlement”), by and among RTPY, Aurora and RTPY Merger Sub Inc., a Delaware company and a direct wholly owned subsidiary of RTPY, (iv) the incapability to entire the PIPE expense in relationship with the proposed transaction, (v) the incidence of any occasion, improve or other circumstance that could give increase to the termination of the Merger Arrangement, (vi) the influence of the announcement or pendency of the proposed transaction on Aurora’s business enterprise interactions, operating results and small business generally, (vii) risks that the proposed transaction disrupts recent plans and functions of Aurora and opportunity challenges in Aurora staff retention as a result of the proposed transaction, (viii) the end result of any lawful proceedings or other disputes that may perhaps be instituted in opposition to Aurora or from RTPY relevant to the Merger Arrangement or the proposed transaction or or else, (ix) the capacity to maintain the listing of RTPY’s securities on a nationwide securities trade, (x) the value of RTPY’s securities may well be risky because of to a variety of components, including modifications in the aggressive and highly regulated industries in which RTPY programs to operate or Aurora operates, variations in functioning general performance across rivals, changes in guidelines and polices affecting RTPY’s or Aurora’s enterprise and changes in the merged funds framework, (xi) the ability to put into action organization programs, forecasts, and other expectations following the completion of the proposed transaction, and determine and realize added options, and (xii) the possibility of downturns and a changing regulatory landscape in the highly competitive self-driving marketplace. The foregoing list of elements is not exhaustive. You should meticulously take into account the foregoing aspects and the other pitfalls and uncertainties described in the “Possibility Aspects” segment of RTPY’s registration statement on Sort S-1 (File No. 333-253075), its Quarterly Studies on Form 10-Q for the periods finished March 31, 2021 and June 30, 2021, respectively, the registration statement on Form S-4 (File No. 333-257912) and other files submitted by RTPY from time to time with the SEC. These filings establish and address other critical pitfalls and uncertainties that could result in actual functions and effects to differ materially from individuals contained in the ahead-searching statements. Forward-hunting statements talk only as of the day they are created. Readers are cautioned not to place undue reliance on ahead-looking statements, and RTPY and Aurora assume no obligation and do not intend to update or revise these ahead-wanting statements, whether as a final result of new data, foreseeable future gatherings, or or else. Neither RTPY nor Aurora gives any assurance that either RTPY or Aurora or the mixed firm will attain its anticipations.
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Reinvent Engineering Companions Y:
Ed Trissel / Scott Bisang
Joele Frank, Wilkinson Brimmer Katcher