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The sale priced shares at $24 each, the report said, citing people familiar with the matter.
The Boring Company also told shareholders that investors could buy up to $20 million in secondary shares as part of the recent share sales, one of the people told The Information.
This gives the Austin, Texas-based startup an implied valuation of over $7 billion, the report added, up from its $5.675 billion valuation after a Series C funding round led by Vy Capital and Sequoia Capital last year.
The Boring Company did not immediately respond to a Reuters request for comment.
