TuSimple Completes $1.4 Billion IPO
TuSimple Holdings, Inc. (“TuSimple” or the “Company”) (NASDAQ: TSP), recently completed an initial public offering of 33,783,783 shares of Class A common stock at a price of $40.00, generating gross proceeds of approximately $1.4 billion. The offering was comprised of 27,027,027 shares sold by the Company and 6,756,756 shares sold by certain selling stockholders. The Company intends to use the net proceeds from the offering to increase financial flexibility, increase visibility in the marketplace and to create a public market for its common stock.
Baird served as co-manager on the offering.
AboutTuSimple is an autonomous technology company that is revolutionizing the estimated $4 trillion global truck freight market. The Company has developed industry-leading autonomous technology specifically designed for semitrucks, which has enabled it to build the world’s first Autonomous Freight Network in partnership with world-class shippers, carriers, railroads, freight brokers, fleet asset owners and truck hardware partners. TuSimple believes that its technology and AFN will make long haul trucking significantly safer as well as more reliable, efficient and environmentally friendly, creating significant benefits for all who rely on the freight ecosystem to deliver essential goods. The Company is headquartered in San Diego, California.
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- April 2021
- TuSimple Holdings, Inc.
- Equity Capital Markets
- Technology & Services
- Target Location
- North America
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