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TuSimple raises $1.1B in IPO sales ahead of bell-ringing public debut Startup autonomous truck software maker eschewed SPAC for traditional IPO 1 1,630 3 minutes read Autonomous trucking software developer Tu Simple raised $1.1 billion in its initial public offering of stock. Editor’s Note: Updates with new second graf on company planning to hire 400 new employees in next six months TuSimple, the first autonomous vehicle software maker to go public, raised about $1.1 billion at $40 per share, slightly above the high end of its estimate. Shares begin trading Thursday on the NASDA...

Robot Truck Startup TuSimple Raises $1 Billion In First Self-Driving Startup IPO Share to Facebook TuSimple TuSimple, a San Diego-based developer of robotic truck technology, raised $1 billion from listing shares on Nasdaq and is the first self-driving tech company to go public in the U.S. And bucking the trend of going public via a SPAC merger, it did so with a conventional IPO that turned its two cofounders into billionaires. Ahead of the start of trading TuSimple said it sold about 27 million shares priced at $40 each, with an additional 6.8 million sold by an unnamed investor. Funds raise...

Print Self-driving truck startup TuSimple has set the price range for its proposed initial public stock at $35 to $39 per share, which at the midpoint would value the upstart San Diego-based firm at $7.85 billion. TuSimple revealed its proposed price range on Wednesday in an update to its prospectus — initially filed on March 23 with the U.S. Securities and Exchange Commission. TuSimple posted just $1.8 million in revenue and rung up a $178 million loss last year. Still, it has momentum in the self-driving truck race — thanks to the significant capital that it has raised and partnerships...