Aurora Innovation Inc (NASDAQ:AUR) shares are trading lower by 11.6% to $3.86 Tuesday morning. The company late Friday said it plans to issue securities through various offerings. The total value of securities won’t exceed $850 million.
Aurora Innovation says it has flexibility in using the funds raised from selling securities. Generally, they intend to use it for operational needs and may also consider investing in new technologies or businesses. However, they currently lack specific agreements for such investments.
Aurora says these plans are based on their current intentions and business conditions, so they might change. Until they decide, they may invest the funds in secure, interest-bearing options like government bonds or investment-grade instruments.
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According to data from Benzinga Pro, AUR has a 52-week high of $4.81 and a 52-week low of $1.14.
