September 19, 2021

Volume XI, Number 262


September 17, 2021

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Upcoming/New; Post-Closing CFIUS Filing: Sina Corporation and TuSimple Holdings Inc.

Status:  Upcoming/New Filing; Post-Closing Filing

Acquirer:  Sina Corporation (China)

Acquired:   TuSimple Holdings Inc. (US)

Value:  Unknown

Industry:  Autonomous Vehicles

On March 23, 2021, TuSimple Holdings Inc., “an autonomous technology company” that has “developed industry-leading autonomous technology specifically designed for semi-trucks,” announced that it was offering shares of Class A common stock.  (TuSimple Holdings Inc., Form S-1, Mar. 23, 2021, SEC Filing.)  Included in the disclosures for that offering, TuSimple Holdings reported that on March 1, 2021, CFIUS “requested that [TuSimple] file a written notice regarding the 2017 purchase of shares . . . by Sun Dream Inc. (“Investor”), an affiliate of Sina Corporation,” a Chinese technology and media company. (Id.)  Sina Corporation and TuSimple Holdings “intend to file the requested notice jointly . . .” (Id.)

© Copyright 2021 Squire Patton Boggs (US) LLPNational Law Review, Volume XI, Number 132

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