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Pony AI Inc., a leader in autonomous mobility, has announced the pricing of its initial public offering (IPO) of 20,000,000 American depositary shares (“ADSs”) at a price of $13 per ADS. The company has also granted underwriters an option to purchase an additional 3,000,000 ADSs within 30 days. The ADSs are set to begin trading on November 27, 2024, on the Nasdaq Global Select Market under the symbol “PONY”.
Key Highlights:
- 20,000,000 ADSs offered at $13 per ADS
- Nasdaq listing under the symbol “PONY” on November 27, 2024
- Goldman Sachs, Merrill Lynch, Deutsche Bank, Huatai Securities, and Tiger Brokers are acting as underwriters
- Concurrent private placements valued at approximately $153.4 million
- Total expected gross proceeds of approximately $413.4 million, excluding additional ADS options
The offering is expected to close on November 29, 2024, subject to customary conditions. Goldman Sachs (Asia), Merrill Lynch (Asia Pacific), Deutsche Bank, Huatai Securities, and Tiger Brokers are acting as underwriters for the offering, supporting the public market entry of Pony.ai.
In addition to the IPO, several strategic third-party investors have committed to purchase $153.4 million worth of Class A ordinary shares at the offering price through private placements. These include:
- JSC International Investment Fund SPC (equivalent of RMB500 million)
- Guangzhou Nansha Chicheng Future Industry Investment Fund Partnership (equivalent of RMB300 million)
- Guangqipony Holdings Limited ($27 million)
- Kechuangzhihang Holdings Limited ($15 million)
The combined gross proceeds from the offering and private placements are expected to reach $413.4 million, and could increase to $452.4 million if underwriters fully exercise their option to purchase additional ADSs.
Pony.ai’s registration statement for the IPO has been filed with and declared effective by the SEC. Copies of the final prospectus can be obtained from the underwriters listed above. This announcement does not constitute an offer to sell, nor a solicitation to buy, in jurisdictions where such actions would be unlawful without proper registration or qualification.
Founded in 2016, Pony AI Inc. has become a key player in the global autonomous mobility market, leveraging its Virtual Driver technology to deliver large-scale, commercially viable autonomous driving solutions. Pony.ai continues to expand its footprint across China, Europe, East Asia, and the Middle East, developing a sustainable model for the mass production and deployment of autonomous vehicles across various transportation sectors.
For more information, please visit Pony AI Investor Relations.
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