Tender documents show that Uber will use $2.9 billion in loans to finance its capital raising, as it begins its capitalization process.
The funds will come from the existing funding, and the company will also use the funds to fund other strategic acquisitions.
The loans are expected to be used to finance a “large-scale capital campaign,” including expansion of the company’s service and to further develop its technology.
Uber will also need to raise up to $1.9 million in venture capital to expand its services, the documents show.
Uber’s financing plan is expected to take effect on August 31, 2018, with the company expected to use its proceeds to repay its debt and expand its business.