Pony.ai (PONY.US) is set to go public tonight at an IPO price of $13/share.

Pony.ai (PONY.US), a global leader in the commercialization of autonomous driving, priced its initial public offering of 20 million American Depositary Shares (ADSs) at $13 per ADS, representing one share of the Company's Class A common stock. The shares are expected to be listed on November 27.

The IPO marks Pony.ai's further expansion of its global business map for autonomous driving solutions, covering China, Europe, East Asia and the Middle East.

The underwriters have been granted an over-allotment option to purchase up to an additional 3,000,000 ADSs, exercisable within 30 days. If the underwriters do not exercise the over-allotment option, the Company's total gross proceeds from this offering and the accompanying private placement financing are expected to be approximately $413.4 million; if the underwriters fully exercise the over-allotment option, the total gross proceeds are expected to rise to approximately $452.4 million. The financing will provide Pony.ai with strong financial support to accelerate the global commercialization of its autonomous driving technology.