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Self-Driving Startup Aurora Going Public Through a SPAC – The Detroit Bureau

Self-driving technology startup Aurora is preparing to go public — netting $2 billion in cash — with the help of a SPAC, which has become the preferred way to take companies public rather than a more conventional initial public offering. 

Aurora CEO Chris Urmson is targeting 2023 for the release of the company’s Level 4 autonomous driving technology.

Founded five years ago by Chris Urmson, a self-driving technology pioneer, who once headed Waymo’s fledgling autonomous car unit, Aurora last year acquired Uber’s self-driving car research unit for $400 million and has partnered with automotive and truck manufacturers planning to launch their own robotic vehicles. 

Aurora could carry valuation of between $11 billion and $13 billion into the SPAC, or special purpose acquisition company, despite the volatility surrounded some new vehicle companies such as Lordstown Motors, Nikola and Canoo, analysts said. All three went public using a…

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