Reinvent Technology Partners Y (“RTPY”) (NASDAQ: RTPY), a
special purpose acquisition company that takes a “venture capital
at scale” approach to investing, reminds its shareholders to vote
“FOR” the proposed business combination with leading self-driving
company Aurora. RTPY shareholders of record as of the close of
business on September 30, 2021 are entitled to vote at the
Extraordinary General Meeting of Shareholders (“Extraordinary
Meeting”), which is being held on November 2, 2021 at 12:00 p.m.
ET.
The business combination, if approved by RTPY shareholders, is
expected to close on November 3, 2021. Upon the closing of the
business combination, RTPY will change its name to Aurora
Innovation, Inc., and common stock and warrants of the combined
company are expected to begin trading on November 4, 2021 on Nasdaq
under the ticker symbols “AUR” and “AUROW,” respectively.
Aurora is building the technology and business to commercialize
self-driving at scale both in autonomous trucking and passenger
mobility. Aurora’s industry-leading partners include Toyota, Uber,
Volvo and PACCAR. Fox Advisors has initiated coverage of RTPY with
an Outperform and $15 price target, and D.A. Davidson has initiated
coverage with a Buy rating and $13 price target. RTPY recently
posted a detailed investment memo on the investor relations section
of its website on Aurora and what it believes is the massive
potential impact of self-driving technology:
https://y.reinventtechnologypartners.com/investor-relations/presentations-events/presentations/detail/10295/aurora-investment-thesis.
To invest in Aurora, individuals can buy public shares of RTPY
and hold them through the closing of the business combination, at
which time their RTPY shares will automatically convert to common
stock of the publicly listed Aurora on a 1:1 basis.
Below are guidelines and instructions on the voting process for
RTPY shareholders.
The two easiest and most efficient ways to vote are as
follows:
- Vote Online (Highly Recommended): Follow the
instructions provided by your broker, bank or other nominee on the
voting instruction form mailed (or e-mailed) to you. To vote
online, you will need your voting control number, which you can
find on your Voting Instruction Form. Votes submitted
electronically over the Internet must be received by 11:59 p.m. ET
on November 1, 2021.
- Vote by Telephone: Follow the instructions provided by
your broker, bank or other nominee on the Voting Instruction Form
mailed (or e-mailed) to you. To vote via the automated telephone
service, you will need your voting control number, which you can
find on your Voting Instruction Form. Votes submitted over the
telephone must be received by 11:59 p.m. ET on November 1,
2021.
Additionally, you can vote by mail:
- Vote by Mail: Follow the instructions provided by your
broker, bank or other nominee on the Voting Instruction Form mailed
to you. Please be sure to (1) mark, sign and date your Voting
Instruction Form, (2) fold and return your Voting Instruction Form
in the postage-paid envelope provided, and (3) mail your Voting
Instruction Form to ensure receipt on or before 11:59 p.m. ET on
November 1, 2021.
YOUR CONTROL NUMBER IS FOUND ON YOUR VOTING INSTRUCTION
FORM. If you misplaced or did not receive your Voting
Instruction Form, contact your broker, bank or other nominee to
obtain your control number in order to vote. A bank, broker or
other nominee is a person or firm that acts as an intermediary
between an investor and the stock exchange who can help you vote
your shares.
RTPY shareholders needing further assistance in voting their
RTPY shares can contact Morrow Sodali by calling 800-662-5200, or
banks and brokers can call collect at 203-658-9400, or by emailing
RTPY.info@investor.morrowsodali.com.
About Aurora
Founded in 2017 by experts in the self-driving industry, Aurora
is on a mission to deliver the benefits of self-driving technology
safely, quickly, and broadly. To move both people and goods, the
company is building the Aurora Driver, a platform that brings
together software, hardware and data services to autonomously
operate passenger vehicles, light commercial vehicles, and
heavy-duty trucks. Aurora is backed by Sequoia Capital, Baillie
Gifford, funds and accounts advised by T. Rowe Price Associates,
among others, and is partnered with industry leaders including
Toyota, Uber, Volvo, and PACCAR. Aurora tests its vehicles in the
Bay Area, Pittsburgh, and Dallas. The company has offices in those
areas as well as in Bozeman, MT; Seattle, WA; Louisville, CO; and
Wixom, MI. To learn more, visit www.aurora.tech.
Aurora Overview Aurora Press Kit
About Reinvent Technology Partners Y
Reinvent Technology Partners Y is a special purpose acquisition
company founded by Mark Pincus, Michael Thompson, and Reid Hoffman.
Reinvent Technology Partners Y was formed to support a technology
business to innovate and achieve entrepreneurship at scale by
leveraging its team’s operating experience as founders of iconic
technology companies, their experience building companies as
advisors and board members, and the capital raised in its initial
public offering.
Cautionary Statement Regarding Forward Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws with respect to
the proposed transaction between Reinvent Technology Partners Y
(“RTPY”) and Aurora Innovation, Inc. (“Aurora”). These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “continue,” “likely,” and similar
expressions. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this document, including but not limited to: (i) the
risk that the proposed transaction may not be completed in a timely
manner or at all, which may adversely affect the price of RTPY’s
securities, (ii) the risk that the proposed transaction may not be
completed by RTPY’s business combination deadline and the potential
failure to obtain an extension of the business combination deadline
if sought by RTPY, (iii) the failure to satisfy the conditions to
the consummation of the proposed transaction, including the
adoption of the Agreement and Plan of Merger, dated as of July 14,
2021 (the “Merger Agreement”), by and among RTPY, Aurora and RTPY
Merger Sub Inc., a Delaware corporation and a direct wholly owned
subsidiary of RTPY, by the shareholders of RTPY, the satisfaction
of the minimum cash condition following redemptions by RTPY’s
public shareholders and the receipt of certain governmental and
regulatory approvals, (iv) the inability to complete the PIPE
investment in connection with the proposed transaction, (v) the
occurrence of any event, change or other circumstance that could
give rise to the termination of the Merger Agreement, (vi) the
effect of the announcement or pendency of the proposed transaction
on Aurora’s business relationships, operating results and business
generally, (vii) risks that the proposed transaction disrupts
current plans and operations of Aurora and potential difficulties
in Aurora employee retention as a result of the proposed
transaction, (viii) the outcome of any legal proceedings or other
disputes that may be instituted against Aurora or against RTPY
related to the Merger Agreement or the proposed transaction or
otherwise, (ix) the ability to maintain the listing of RTPY’s
securities on a national securities exchange, (x) the price of
RTPY’s securities may be volatile due to a variety of factors,
including changes in the competitive and highly regulated
industries in which RTPY plans to operate or Aurora operates,
variations in operating performance across competitors, changes in
laws and regulations affecting RTPY’s or Aurora’s business and
changes in the combined capital structure, (xi) the ability to
implement business plans, forecasts, and other expectations after
the completion of the proposed transaction, and identify and
realize additional opportunities, and (xii) the risk of downturns
and a changing regulatory landscape in the highly competitive
self-driving industry. The foregoing list of factors is not
exhaustive. You should carefully consider the foregoing factors and
the other risks and uncertainties described in the “Risk Factors”
section of RTPY’s registration statement on Form S-1 (File No.
333-253075), its Quarterly Reports on Form 10-Q for the periods
ended March 31, 2021 and June 30, 2021, respectively, the
registration statement on Form S-4 discussed below and other
documents filed by RTPY from time to time with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and RTPY and Aurora assume no obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. Neither RTPY nor Aurora gives any assurance that either
RTPY or Aurora or the combined company will achieve its
expectations.
Additional Information and Where to Find It
This press release relates to a proposed transaction between
RTPY and Aurora. This press release is not a proxy, consent or
authorization with respect to any securities or in respect of the
proposed transaction and does not constitute an offer to sell or
exchange, or the solicitation of an offer to buy or exchange, any
securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. RTPY has filed a
registration statement on Form S-4 with the SEC (333-257912), which
includes a prospectus and proxy statement of RTPY, referred to as a
proxy statement/prospectus. RTPY has mailed a definitive proxy
statement/prospectus and other relevant documents to its
shareholders of record as of September 30, 2021, the record date
established for the extraordinary general meeting of shareholders
relating to the proposed transaction between RTPY and Aurora.
Before making any voting or investment decision, investors and
security holders of RTPY are urged to read the registration
statement, the proxy statement/prospectus and all other relevant
documents filed or that will be filed with the SEC in connection
with the proposed transaction because they will contain important
information about the proposed transaction. Investors and security
holders will be able to obtain free copies of the registration
statement, the proxy statement/prospectus and all other relevant
documents filed or that will be filed with the SEC by RTPY through
the website maintained by the SEC at www.sec.gov. The documents
filed by RTPY with the SEC also may be obtained free of charge at
RTPY’s website at https://y.reinventtechnologypartners.com or upon
written request to c/o Reinvent Capital, 215 Park Avenue, Floor 11
New York, NY.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211026005708/en/
Aurora: Khobi Brooklyn press@aurora.tech (415)
699-3657
Reinvent Technology Partners Y: Ed Trissel / Scott Bisang
Joele Frank, Wilkinson Brimmer Katcher 212-355-4449
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