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    Home»Deals»TuSimple raises over $1 billion in U.S. IPO at nearly $8.5 billion valuation
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    TuSimple raises over $1 billion in U.S. IPO at nearly $8.5 billion valuation

    April 17, 20211 Min Read
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    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

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