Electric vehicle company Rivian has confidentially filed for an IPO

 

Rivian announces confidential submission of draft registration statement for proposed public listing. Under Rule 135 under the Securities Act of 1933, as amended (the “Securities Act”) and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities

Rivian, the electric vehicle startup which has  investors that include including Ford and Amazon, has filed IPO paperwork with the U.S. Securities and Exchange Commission.

The process is  still in review with the Securities Exchange Commission at an offering price has not been set yet. Market conditions are also taken into consideration.

Across the hottest and coldest places — from 130F to -25F — our battery system has been developed to explore. At launch, the R1T will deliver 300+ miles. In January 2022, a 400+ mile R1T will be available. After launch, we’ll announce the timing for a 250+ mile R1T.Reported by Rivian Investor Relations

Range is an estimate — our official EPA rating is pending review.

Rivian recently closed a $2.5 billion funding round by Amazon’s climate pledge fund, Ford Motor and D1 Capital motors. Third Point, fidelity management and research company T Rowe Price and associates and CO2 are also investors in the fund.

Rivian has raised $10.5 billion to date. In January, the company secured $2.65 billion from existing investors T. Rowe Price Associates.

The company brought in funding from Fidelity Management and Research Company, Amazon’s Climate Pledge Fund, Coatue and D1 Capital Partners. New investors also participated in that round, which pushed Rivian’s valuation to $27.6 billion, a source familiar with the investment round told TechCrunch at the time.

The company employs 7,000 people to help deliver its pickup truck R1Y electronic vehicle which starts at a price  $67,500 with 300+ miles of range.

Image Twitter Rivian


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