Uber Technologies (UBER) said late Tuesday it priced a private placement to eligible purchasers of $1 billion principal amount of 0% exchangeable senior notes due 2028.
The initial purchasers have been granted an option to purchase up to $150 million additional amount of notes.
The notes will be exchangeable into cash, class A common shares of Aurora Innovation, or a combination of cash and shares.
Net proceeds, estimated to be about $978.9 million to $1.13 billion, will be used for general corporate purposes, the company said.
Closing of the sale is expected to occur on May 20, subject to customary closing conditions.
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