Aurora Innovation Slips on Uber Plan to Sell $1B of Exchangeable Notes

Dow Jones

May 14, 2025

By Josh Beckerman

Shares of Aurora Innovation shares slid as stockholder Uber Technologies announced a proposed $1 billion offering of notes that would be exchangeable for Aurora stock.

Aurora's stock fell 16%, to $6.18, in after-hours trading Tuesday. The shares finished the day at $7.32, down 7.7%, but have gained about 16% since the start of the year.

Uber's senior notes due 2028 will be exchangeable into cash, or, subject to certain conditions, units of reference property, or a combination of cash and units of reference property, at Uber's election. Initially, each unit of reference property will be comprised of one Aurora share, Uber said.

In December 2020, Uber sold its self-driving-car unit to competitor Aurora and said it would also make a $400 million cash investment in Aurora.

Uber Chief Executive Dara Khosrowshahi resigned from Aurora's board on Dec. 31, 2024.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

May 13, 2025 18:44 ET (22:44 GMT)

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Initially, each unit of reference property will be comprised of one Aurora share, Uber said.In December 2020, Uber sold its self-driving-car unit to competitor Aurora and said it would also make a $400 million cash investment in Aurora.Uber Chief Executive Dara Khosrowshahi resigned from Aurora's board on Dec. 31, 2024.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU2360107325.USD":"BGF FUTURE OF TRANSPORT \"A4\" (USD) INC","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","BK4585":"ETF&股票定投概念","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","AUR":"Aurora Innovation","BK4503":"景林资产持仓","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","SG9999014906.USD":"大华全球优质成长基金Acc USD","IE00BFMHRM44.USD":"NEUBERGER BERMAN GLOBAL EQUITY MEGATRENDS \"A\" (USD) ACC","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","SG9999015978.USD":"利安颠覆性创新基金A","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4536":"外卖概念","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","SGXZ51526630.SGD":"大华环球创新基金A Acc SGD","LU0106261372.USD":"SCHRODER ISF US LARGE CAP \"A\" ACC","BK4230":"旅客陆运","BK4505":"高瓴资本持仓","BK4557":"大麻股","BK4535":"淡马锡持仓","UBER":"优步","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","BK4023":"应用软件","BK4550":"红杉资本持仓","BK4588":"碎股","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0082616367.USD":"摩根大通美国科技A（dist）","ACB":"奥罗拉大麻公司","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","BK4007":"制药","BK4551":"寇图资本持仓","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","BK4137":"综合支持服务","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","SGXZ81514606.USD":"大华环球创新基金A Acc USD","LU1861219969.SGD":"Blackrock Future of Transport A2 SGD-H"},"translate_title":"Aurora Innovation因Uber计划出售10亿美元可交换票据而下滑","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ACB":1,"UBER":1,"AUR":1},"content_text":"By Josh Beckerman \n\n\n \n\n\n  Shares of Aurora Innovation shares slid as stockholder Uber Technologies announced a proposed $1 billion offering of notes that would be exchangeable for Aurora stock. \n\n\n  Aurora's stock fell 16%, to $6.18, in after-hours trading Tuesday. The shares finished the day at $7.32, down 7.7%, but have gained about 16% since the start of the year. \n\n\n  Uber's senior notes due 2028 will be exchangeable into cash, or, subject to certain conditions, units of reference property, or a combination of cash and units of reference property, at Uber's election. 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