Uber Technologies IncUber monetized $472 million of its Aurora stake, generating cash while retaining significant holdings.
Uber Technologies sold approximately $472 million worth of Aurora Innovation shares in a block transaction. According to a Form 4 filing, on August 17, Neben Holdings, Uber's fully owned subsidiary, sold 72 million Aurora shares to a financial institution for $6.55 each, valuing the deal at around $471.6 million. Uber still beneficially owns about 186.5 million Aurora shares after the transaction, retaining significant exposure to the autonomous-driving startup. The sale appears to be a partial monetization of a significant investment rather than a complete withdrawal, as Uber continues to broaden its autonomous-vehicle strategy through agreements with multiple self-driving technology startups.
Uber Technologies IncUber monetized $472 million of its Aurora stake, generating cash while retaining significant holdings.
Aurora Innovation IncUber sold 72 million shares, reducing its stake and potentially signaling reduced confidence.
Neben Holdings, Uber's subsidiary, sold shares, reducing its ownership in Aurora.