Private Equity

Tusimple Ipo Prices Above Expected Range, Valuing Self-driving Truck Maker At $8.5B

by posted 5months ago 27 views
TuSimple Holdings Inc. is set to go public Thursday, after the self-driving trucks maker's initial public offering priced at $40 a share, above the expected range of between $35 and $39 a share. The company sold 27.03 million shares in the IPO to raise $1.08 billion while selling shareholders sold 6.76 million shares to raise $270.3 million. The IPO pricing values the company at about $8.5 billion. The stock is expected to begin trading on the Nasdaq under the ticker symbol "TSP." Morgan Stanley, Citigroup and J.P. Morgan were the lead book-running managers.

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