03:34 AM EDT, 05/14/2025 (MT Newswires) -- Uber Technologies ( UBER ) said late Tuesday it priced a private placement to eligible purchasers of $1 billion principal amount of 0% exchangeable senior notes due 2028.

The initial purchasers have been granted an option to purchase up to $150 million additional amount of notes.

The notes will be exchangeable into cash, class A common shares of Aurora Innovation, or a combination of cash and shares.

Net proceeds, estimated to be about $978.9 million to $1.13 billion, will be used for general corporate purposes, the company said.

Closing of the sale is expected to occur on May 20, subject to customary closing conditions.