General info on Rivian
About the company
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NameRivian Automotive Inc
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IndustryAutomotive, Electric vehicles
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Employees9,001+
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Founding year2009
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TickerRIVN
Filing Information
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IPO file date1/10/2021
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No. of shares135,000,000
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Price$78
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ExchangeNASDAQ
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BookrunnersMorgan Stanley, Goldman Sachs, JP Morgan, Barclays
IPO Details
About Rivian
The Irving, California-based electric vehicles automaker was founded in 2009 by Robert “RJ” Scaridge. In more than a decade, the company expanded across the US and England. Over the years, it became known for its electric sport utility vehicle (SUV) and pickup truck built on a “skateboard” platform.
Its innovations caught investors’ eye, and as of August 2021, Rivian had raised around $11 billion in funding. Ford and Amazon are among its leading investors, with $500 million, and $700 million, respectively. Both companies are part of Rivian’s stakeholders.
IPO Figures
*Update: Rivian, Inc. has priced its IPO at $78, raising $11.9 billion, pushing its market value to $66.5 billion.
Though its initial public offering, Rivian aims to raise as much as $8.4 billion by selling 135 million shares, with a price range of $72 - $74 per share. The amount raised could go as high as $9.6 billion if the underwriters opted to buy 20.25 million additional shares.
Valuation
Bloomberg has recently valued Rivian at nearly $28 billion. However, following the IPO, the California-based company could reach a market valuation of nearly $60 billion.
Rivian: what you need to know
- Rivian joins a handful of other EV start-ups that recently became publicly traded companies like Lucid and Fisker
- Amazon has invested nearly $3.8 billion in Rivian
- It is also backed by Ford, T Rowe Price and Fidelity
Sources: cnbc.com, investors.com, marketwatch.com, sec.gov, techcrunch.com
Summary
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TickerRIVN
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Price$78
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ExchangeNASDAQ
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BookrunnersMorgan Stanley, Goldman Sachs, JP Morgan, Barclays
Key elements
Find out the most essential numbers for Rivian Automotive Inc IPO
Vehicle preorders:
Vans for Amazon
Venture capital raised
IPO size
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