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Rivian Automotive

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name

Rivian Automotive Inc.

industry

Automotive, Electric vehicles

employees

9,001+

founding_year

2009

ticker

RIVN

filing_information

ipo_file_date

1/10/2021

nr_of_shares

135,000,000

price

$78

exchange

NASDAQ

bookrunners

Morgan Stanley, Goldman Sachs, JP Morgan, Barclays

ipo_details

About Rivian

Founded in 2009, Rivian is an electric vehicle automaker and automotive technology company. The company is based in Irvine, California, and has multiple manufacturing plants and other facilities across the US.

Under CEO and founder Robert “RJ” Scaringe, the company focused on autonomous electric vehicles. It soon became one of the most sought-after EV makers, beating industry behemoths such as GM, Ford, and Tesla.

As of August 2021, Rivian has raised around $11 billion in funding, received through investments, grants, and tax credits. In February 2019, Amazon revealed it would be leading a $700 million investment round. Just a couple of months later, in April, Ford invested $500 million.

In October 2021, Amazon announced it owns 20% of Rivian.

IPO figures

*Update: Rivian, Inc. has priced its IPO at $78, raising $11.9 billion. This deal values the EV company at $66.5 billion.

The start-up hopes to raise up to $8.4 billion through its initial public offering. The Amazon-backed company is offering 135 million shares priced between $72 - $74. Moreover, if underwriters exercise the option to buy 20.25 million additional shares, Rivian could raise as much as $9.6 billion.

According to its SEC filing, Rivian plans to list on the NASDAQ under the symbol “RIVN.”

Valuation

Based on the number of outstanding shares, Rivian’s market valuation could exceed $53 billion. However, if employees stock options and other restricted shares are considered, the company’s valuation could reach $60 billion.

Basic info about Rivian

  • Upon IPO, Rivian could be the titan of recently public companies such as Fisker, Lucid and would be put on par with Nio
  • Amazon and Ford are among Rivian’s prominent investors
  • Bloomberg estimated the company’s value at approx. $28 billion

 

Sources: cnbc.com, investors.com, marketwatch.com, sec.gov, techcrunch.com

summary

ticker

RIVN

price

$78

exchange

NASDAQ

bookrunners

Morgan Stanley, Goldman Sachs, JP Morgan, Barclays

key_points

ipo_quick_overview Rivian Automotive Inc. ipoRivian Automotive Inc.

Targeted valuation

$60 BLN

Amazon ownership

20%

Ford ownership

12%

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status

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ipo_date

10/11/2021

price

$78

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