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Rivian Announces IPO Details, Launch Expected This Month – AutoSector.com ®
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AutoSector.com ®

Rivian Announces IPO Details, Launch Expected This Month


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Rivian has just released amendment No. 2 to its initial public offering (IPO) filling (see the initial overview here), which reveals new important details.

First of all, the company intends to offer 155,250,000 shares (including 20,250,000 shares to the underwriters) at a price between $57.00 and $62.00 per share. As a result, the company might raise up to about $8.85-$9.63 billion (minus costs).

“This is an initial public offering of shares of Class A common stock of Rivian Automotive, Inc. We are offering 135,000,000 shares of our Class A common stock.

Prior to this offering, there has been no public market for our Class A common stock. It is currently estimated that the initial public offering price will be between $57.00 and $62.00 per share. We have applied to list our Class A common stock on the Nasdaq Global Select Market (“Nasdaq”) under the symbol “RIVN.””

Considering up to 882,245,652 shares common stock will be outstanding after this offering (including up to 874,420,652 Class A common stock and 7,825,000 Class B common stock with 10x the voting power), the company could be valued at $50.3-$54.7 billion. IPO shares would stand for about 17.6% of the company.

The $50-$55 billion valuation sounds much more attractive for potential new investors, compared to the initially rumored $80 billion. However, it’s still not far behind big automotive groups like Ford (over $70 billion market cap).

The IPO on the Nasdaq (under “RIVN” symbol) is expected as soon as next week.

Let’s recall that Amazon holds about 20% stake in Rivian. According to CNBC‘s undisclosed sources, Ford holds roughly a 12% stake in Rivian. That would be almost a third in total.

You can see more details in the Rivian’s Amendment No. 2 to Form S-1.


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Table of Contents


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