Reinvent Technology Partners Y (RTPY) Shareholders Approve Proposed Merger with Aurora

Reinvent Technology Partners Y (“RTPY”) (NASDAQ: RTPY), a special purpose acquisition company that takes a “venture capital at scale” approach to investing, announced that at its Extraordinary General Meeting of Shareholders held today, RTPY shareholders voted to approve and adopt the previously announced business combination agreement with self-driving company Aurora.

The formal results of the vote will be included in a Current Report on Form 8-K to be filed by RTPY with the Securities and Exchange Commission (the “SEC”).

The business combination is expected to close on November 3, 2021, subject to the satisfaction or waiver of customary closing conditions. Upon the closing of the business combination, RTPY will change its name to Aurora Innovation, Inc., and common stock and warrants of the combined company are expected to begin trading on November 4, 2021 on Nasdaq under the ticker symbols “AUR” and “AUROW,” respectively.

Aurora is building the technology and business to commercialize self-driving at scale both in autonomous trucking and passenger mobility. Aurora’s industry-leading partners include Toyota, Uber, Volvo and PACCAR. The gross proceeds being raised in this transaction plus cash on the balance sheet as of November 1, 2021, equals approximately $1.8 billion. Proceeds from the business combination represent the largest-ever autonomous vehicle or robotics company primary raise in a go-public transaction. This additional capital is expected to fund Aurora beyond the commercial launch of Aurora Horizon and the Aurora Driver in 2023, and into 2024.

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