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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 3, 2023
AURORA INNOVATION, INC.
(Exact name of registrant as specified in its charter)
| | | | | | | | | | | | | | |
| Delaware | | 001-40216 | | 98-1562265 |
(State or other jurisdiction of
incorporation or organization) | | (Commission File Number) | | (I.R.S. Employer
Identification Number) |
| | | | | | | | |
1654 Smallman St, Pittsburgh, PA | | 15222 |
| (Address of principal executive offices) | | (Zip Code) |
(888) 583-9506
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | | | | | | | |
| Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
| Class A common stock, par value $0.00001 per share | | AUR | | The Nasdaq Stock Market LLC |
| Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 | | AUROW | | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosures
On April 3, 2023, Aurora Innovation, Inc. issued a press release announcing the achievement of Feature Complete, a milestone on the path to commercial launch for the Aurora Driver, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information in this Item 7.01 (including the exhibit) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
EXHIBIT INDEX
| | | | | | | | |
Exhibit No. | | Description |
99.1 | | |
104 | | Cover Page Interactive Data File. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Dated: April 3, 2023
| | | | | | | | |
| | |
AURORA INNOVATION, INC. |
| |
| By: | | /s/ Richard Tame |
| Name: | | Richard Tame |
| Title: | | Chief Financial Officer |
Aurora Introduces Final Capabilities to Advance Toward Commercial Launch of the Aurora Driver
Aurora Driver is now Feature Complete upon the release of Aurora Driver Beta 6.0
Company enters its final phase of refinement and validation ahead of commercial launch of driverless trucks
PITTSBURGH – April 3, 2023 – Today, Aurora Innovation, Inc. (NASDAQ: AUR) announced that the Aurora Driver is Feature Complete, a critical milestone in its path to launching Aurora Horizon, its autonomous trucking subscription service. Achieved in the first quarter of 2023, Feature Complete confirms the company has introduced the final driving capabilities needed to commercially haul freight without vehicle operators between Dallas and Houston by the end of 2024.
Reaching Feature Complete upon the release of Aurora Driver Beta 6.0 is the result of years of innovation, reflected in the company’s award-winning patent portfolio, which includes - among many innovations - the development of the company’s proprietary FirstLight lidar, the creation of the Aurora Virtual Testing Suite, and the Aurora Atlas, its lightweight HD mapping system.
“From day one, we made foundational technology investments and strategic decisions that have helped us reach this pivotal moment,” said Chris Urmson, Co-Founder and Chief Executive Officer at Aurora. "We are now positioned to close our Safety Case for launch, the final step to achieving Aurora Driver Ready later this year. As we mature operations in advance of the launch of Aurora Horizon, our customers will continue to experience the value autonomy can bring to their businesses.”
Feature Complete
The latest product release continues the company’s commitment to reaching critical milestones outlined in Aurora’s Product Roadmap on time or ahead of schedule. Over the last 18 months, Aurora has released dozens of capabilities through six Aurora Driver Beta updates, incrementally increasing the Aurora Driver’s autonomous performance, safety, and reliability in pilot hauls for companies like FedEx, Werner, Schneider, and Uber Freight.
Beta 6.0 refines and unlocks a number of highly complex capabilities that are critical for driverless operations. Two of the flagship capabilities in the release are:
●Identifying and responding to collisions with other vehicles or property. For example, when the Aurora Driver detects that it has been in a collision, like a sideswipe, it will come to a safe stop and notify a Command Center Specialist.
●Detecting and responding to “out of design domain” scenarios. In situations such as extreme and unexpected weather events, the Aurora Driver will notify a Command Center Specialist, who can instruct it and the rest of the fleet on how to proceed.
Aurora Driver Ready
The company now enters its final phase of refinement and validation ahead of launch. As Aurora fine-tunes its capabilities to optimize autonomous performance, it will leverage its Safety Case Framework to “close” the Aurora Driver portion of its Safety Case, a milestone called Aurora Driver Ready. In future business updates, Aurora’s progress toward a closed Safety Case will be regularly shared via an Autonomy Readiness Measure.
By the end of 2023, Aurora expects to complete the necessary validation to close the Aurora Driver Safety Case for driverless operations on its launch lane, Dallas to Houston. In parallel, the company will continue to mature its operations as pilot load volume is expected to increase to 100 loads per week by the end of 2023.
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About Aurora
Aurora (Nasdaq: AUR) is delivering the benefits of self-driving technology safely, quickly, and broadly to make transportation safer, increasingly accessible, and more reliable and efficient than ever before. The Aurora Driver is a self-driving system designed to operate multiple vehicle types, from freight-hauling semi-trucks to ride-hailing passenger vehicles, and underpins Aurora Horizon and Aurora Connect, its driver-as-a-service products for trucking and ride-hailing. Aurora is working with industry leaders across the transportation ecosystem, including Toyota, FedEx, PACCAR, Volvo Trucks, Uber, Uber Freight, U.S. Xpress, Werner, Covenant, Schneider, and Ryder. For Aurora’s latest news, visit aurora.tech and @aurora_inno on Twitter.
Cautionary Statement Regarding Forward-Looking Statements
This Press Release contains certain forward-looking statements within the meaning of the federal securities laws. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including but not limited to those statements around Aurora’s operations and the development, commercialization or market impact of Aurora’s products. These statements are based on management’s current assumptions and are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. For factors that could cause actual results to differ materially from the forward-looking statements in this press release, please see the risks and uncertainties identified under the heading “Risk Factors” section of Aurora Innovation, Inc.’s (“Aurora”) Annual Report on Form 10-K for the year ended December 31, 2022, filed with the SEC on February 21, 2023, and other documents filed by Aurora from time to time with the SEC, which are accessible on the SEC website at www.sec.gov. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. Aurora undertakes no obligation to update forward-looking statements to reflect future events or circumstances.
Investor Relations:
Stacy Feit
(323) 610-0847
Media:
Khobi Brooklyn
(415) 699-3657