The 0% exchangeable senior notes are due 2028

Davis Polk advised the initial purchaser in connection with a Rule 144A offering by Uber Technologies, Inc. of $1.15 billion aggregate principal amount of its 0% exchangeable senior notes due 2028, which included $150 million aggregate principal amount of notes issued pursuant to the exercise in full of the initial purchaser’s option to purchase additional notes. The notes will be exchangeable into cash or, subject to the satisfaction of certain share delivery conditions, shares of Class A common stock of Aurora Innovation, Inc., or a combination thereof, at Uber’s election.

Uber is a technology platform that uses a massive network, leading technology, operational excellence and product expertise to power movement from point A to point B. Uber is headquartered in San Francisco, California.

The Davis Polk corporate team included partners Alan F. Denenberg and Emily Roberts and associates Karen Yang and Grace Yongxi Pan. The equity derivatives team included partner Mark M. Mendez, counsel Hanbing Zhang and associate Ji Hwan Kim. The tax team included partner Lucy W. Farr. The secured transactions team included counsel Erika D. White. Partner Frank Azzopardi provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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