We advised Pony AI on its IPO, concurrent private placements and Nasdaq listing

Davis Polk advised Pony AI Inc. on its SEC-registered initial public offering of 20,000,000 American depositary shares (ADSs) and concurrent private placements, with total proceeds of approximately $413 million. Each ADS represents one Class A ordinary share of Pony AI. Pony AI has granted the underwriters an option to purchase up to an additional 3,000,000 ADSs. The ADSs are listed on the Nasdaq Global Select Market under the symbol “PONY.”

Pony AI is a global leader in autonomous driving technology and solutions. Founded in 2016, Pony AI has expanded its presence across China, Europe, East Asia, the Middle East and other regions, ensuring widespread accessibility to its advanced technology.

The Davis Polk corporate team included partners Li He, James C. Lin and Michael Kaplan, counsel – registered foreign lawyer Kevin Zhang and registered foreign lawyer Yin Wu. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Counsel Sarah E. Kim and associates Harrison Perry and Nausherwan Ahmed Aamir provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, London and New York offices.

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