Pony AI raised $413 million in its US offering, making it the largest IPO in the autonomous driving space on the US stock market this year.
Chinese autonomous driving startup Pony AI (NASDAQ: PONY) went public on the Nasdaq overnight, making it the largest initial public offering (IPO) in the autonomous driving space on the US stock market this year.
Pony AI’s IPO offering was priced at $13 per ADS (American Depositary Share), which is at the upper end of the $11-$13 price range. Each ADS corresponds to one ordinary share.
After expanding the size of the offering by 33.3 percent from the originally planned 15 million shares, the company issued 20 million ADSs to raise a total of $260 million.
It also sold about $153 million worth of ordinary shares through concurrent private placements, bringing the total amount raised in the IPO to $413 million.
Notably, Pony AI was…
