Rivian, an electric vehicle startup, is confidentially filing paperwork with the U.S. Securities and Exchange Commission in order to go public.
It is still unknown what the price range and size of the proposed offering will be. According to a brief statement, the initial public offering will take place once the SEC has completed its review. This is subject to market conditions and other conditions.
This confidential filing is less than two years after Rivian announced that it had closed a $2.5B private funding round. The round was led by D1 Capital Partners, Amazons Climate Pledge Fund and Ford Motor. Funds and accounts advised T. Rowe Price Associates Inc., T. Rowe Price Associates Inc., Third Point, Fidelity Management and Research Company and Dragoneer Investment Group were also part of the round.
At the time of the July 2021 announcement, the company didn't have a post-money value.
Rivian, an electric automaker that now employs over 7,000 people, will soon be able to deliver its R1T pickup truck. Rivian was able to raise capital easily for the R1T pickup truck and its SUV companion.
Rivian has raised approximately $10.5 billion so far. Rivian has raised approximately $10.5 billion to date from existing investors T. Rowe Price Associates Inc. and Fidelity Management and Research Company. In January, it also received $2.65 million from T. Rowe Price Associates Inc. and Fidelity Management and Research Company. TechCrunch was also informed by a source that Rivians' valuation climbed to $27.6 Billion due to the participation of new investors.
Developing.
