Aurora Innovation Inc (AUR)

Aurora Innovation Inc (AUR) stock dropped y 14.65% due to investors' reaction to the an announcement by the company regarding its plans to issue securities through various offerings, which seemed to be uncertain surrounding the company's use of funds and the potential impact on its financial position and future growth prospects. In details,

• Securities Offering Plans: Aurora Innovation disclosed its intention to issue securities through multiple offerings, with the total value not exceeding $850 million. The company indicated that it would have flexibility in utilizing the funds generated from these securities.
• Intended Use of Funds: While the company stated that the funds would be used for operational needs, it also noted the possibility of considering investments in new technologies or businesses. However, Aurora currently lacks specific agreements for such investments.
• Flexibility and Business Conditions: Aurora emphasized that these plans are contingent on its current intentions and business conditions, indicating that they might change in the future. In the interim, the company may consider investing the funds in secure, interest-bearing options like government bonds or investment-grade instruments. That investors were likely monitoring how Aurora executes its plans and adapts to changing market conditions led to the stock's decline.

Aurora Innovation, Inc. (AUR) declined 15.21% to $3.01 after TD Cowen initiated coverage on Aurora Innovation with a Market Perform rating and announced a price target of $3.

https://www.benzinga.com/news/23/09/34736830/why-terran-orbital-shares-are-trading-lower-by-19-here-are-other-stocks-moving-in-tuesdays-mid-day-s

Aurora Innovation, Inc. (AUR) dropped 10.56% when the company priced its public offering of 73,333,333 shares of Class A common stock at $3.00 per share. All securities will be sold by Aurora. Additionally, Aurora granted underwriters a 30-day option to purchase up to 10,999,999 additional shares at the offering price, minus discounts and commissions. Concurrent with the public offering, Aurora also entered into a common stock purchase agreement with certain existing institutional and strategic investors.

https://finance.yahoo.com/news/aurora-announces-pricing-220-million-120000924.html