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.
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.
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.
Read more at Reuters
By Sohini Podder and Vinay Dwivedi
