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)
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.)