{"id":112147,"date":"2021-04-15T11:25:32","date_gmt":"2021-04-15T11:25:32","guid":{"rendered":"https:\/\/fin2me.com\/?p=112147"},"modified":"2021-04-15T11:25:32","modified_gmt":"2021-04-15T11:25:32","slug":"tusimple-raises-over-1-billion-in-u-s-ipo-at-nearly-8-5-billion-valuation","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/tusimple-raises-over-1-billion-in-u-s-ipo-at-nearly-8-5-billion-valuation\/","title":{"rendered":"TuSimple raises over $1 billion in U.S. IPO at nearly $8.5 billion valuation"},"content":{"rendered":"<p>(Reuters) &#8211; TuSimple Holdings Inc said on Thursday it had raised more than $1 billion through an initial public offering (IPO), valuing the self-driving truck startup at nearly $8.5 billion.<\/p>\n<p>The San Diego, California-based company sold around 27 million shares in its IPO, while some stockholders sold about 6.8 million shares priced at $40 apiece.<\/p>\n<p>Backed by Volkswagen\u2019s commercial trucking unit, TRATON SE, and United Parcel Service Inc, TuSimple is developing self-driving trucks with Navistar International Corp whose production is slated to start in 2024.<\/p>\n<p>The company is the latest player in the self-driving technology and manufacturing market to take the public market route after a string of lidar sensor manufacturers, including Luminar Technologies Inc and Velodyne Lidar Inc, went public through mergers with blank-check firms last year.<\/p>\n<p>TuSimple\u2019s share are set to debut on the Nasdaq later in the day, under the ticker symbol \u201cTSP\u201d.<\/p>\n<p>Morgan Stanley, Citigroup and J.P. Morgan were the lead underwriters for the offering.<\/p>\n<p>Source: <a href=\"https:\/\/www.reuters.com\/article\/us-tusimple-ipo\/tusimple-raises-over-1-billion-in-u-s-ipo-at-nearly-8-5-billion-valuation-idUSKBN2C21A7\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) &#8211; TuSimple Holdings Inc said on Thursday it had raised more than $1 billion through an initial public offering (IPO), valuing the self-driving truck [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TuSimple raises over $1 billion in U.S. IPO at nearly $8.5 billion valuation - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/tusimple-raises-over-1-billion-in-u-s-ipo-at-nearly-8-5-billion-valuation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TuSimple raises over $1 billion in U.S. IPO at nearly $8.5 billion valuation - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) &#8211; 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