AsianFin -- Chinese autonomous driving solutions provider Horizon Robotics has raised about $821 million through a top-up share placement in Hong Kong, the company said in a filing to the stock exchange on Friday.

The deal involved 639 million Class B ordinary shares priced at HK$9.99 ($1.28) each, representing a 5.8% discount to Horizon’s closing price on Thursday, according to a term sheet reviewed by Reuters.

Horizon said it will use the proceeds to support research and development and to invest in emerging businesses, including its Robotaxi initiative.