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Deutsche Bank has been appointed as the depositary bank for Pony AI Inc.'s (NASDAQ: PONY) American Depositary Receipt program listed on NASDAQ. Pony AI, headquartered in Guangzhou, China, is focused on commercializing autonomous driving technology globally. The Level III ADR program has a 1:1 ratio (1 ADS to 1 Class A ordinary share) and began trading on November 29, 2024. The company aims to provide safe, sustainable, and accessible mobility solutions worldwide.
Pony.ai, a global leader in autonomous driving technology, has successfully completed its IPO on the Nasdaq Global Select Market under the symbol PONY. The company offered 20 million American Depository Shares at $13.00 per share, raising approximately $260 million, with potential to reach $299 million including over-allotment options. Additional strategic investors participated in concurrent private placements totaling $153.4 million. The combined proceeds will support Pony.ai's mission to deliver autonomous mobility solutions globally.
Pony AI has announced the pricing of its initial public offering of 20,000,000 American depositary shares (ADSs) at US$13 per ADS. The ADSs will trade on the Nasdaq Global Select Market under the symbol PONY starting November 27, 2024. The company has granted underwriters a 30-day option to purchase up to 3,000,000 additional ADSs. Concurrent with the IPO, strategic investors have committed to purchase approximately US$153.4 million worth of Class A ordinary shares in private placements. The total gross proceeds are expected to reach US$413.4 million, or US$452.4 million if underwriters exercise their full option.
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