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Pony AI Prices IPO

Nov 27, 2024 2:42 AM

05:18 AM EST, 11/27/2024 (MT Newswires) -- Pony AI (PONY) said Wednesday it priced its initial public offering of 20 million American depositary shares, each representing one Class A ordinary share of the company, at $13 per ADS.

The ADS have been approved for listing and are expected to start trading on the Nasdaq Global Select Market on Wednesday under the symbol "PONY."

The company also granted the underwriters a 30-day option to buy up to 3 million additional ADS. The offering is expected to close on Friday.

Certain third-party investors have agreed to buy about $153.4 million of Class A ordinary shares from the company in private placements.

The company expects total gross proceeds of about $413.4 million from the offering and the concurrent private placements.

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