Autonomous vehicle technology company Guident has filed for its US IPO as the sector heats up amid the wider adoption of autonomous vehicles across the globe.
The Tekcapital portfolio company announced its intention to list on the NASDAQ at the beginning of the year. Many companies put off their plans to list amid heightened volatility caused by Trump’s trade policies, and today’s announcement comes after a sustained period of improvement in US equity markets.
Guident’s S-1 filing with the SEC has been made confidentially, which allows the company to keep commercially sensitive information private and gives them greater control over the timing of their IPO.
Information related to the IPO will be made public in the run-up to the IPO after a period of review by the SEC.
“The biggest advantage of confidential filings is withholding information from competitors for a few months, compared to a traditional filing that everyone could see,” said Jay Ritter, a finance professor at the University of Florida, to Forbes.
US tech giants, including Uber, Lyft and Airbnb, have opted to use confidential IPO filings in the past.
Tekcapital didn’t share any information relating to the IPO fundraise or valuation in today’s announcement.
“The number of shares to be offered and the price range for the proposed offering have not yet been determined,” the Tekcapital announcement read.
Guident’s IPO filing has been announced against the backdrop of rapid expansion across the autonomous vehicle industry. Notable recent developments include Uber’s investment in WeRide to expand AV taxi operations into 15 more cities globally and Waymo’s plans to add 2,000 more vehicles to its fleet through 2026.