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Tuesday, October 19, 2021

Rivian’s IPO filing is now public – TechCrunch

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Electric vehicle startup Rivian, which started deliveries of its R1T pickup truck in September, released its filing to become a publicly traded company in the United States.

The S-1 document, which was filed Friday with the U.S. Securities and Exchange Commission, does not include terms for its offering.

The company filed confidentially for its IPO in late August, just two months after it had closed a $2.5 billion private funding round led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor and funds and accounts advised by T. Rowe Price Associates Inc. Third Point, Fidelity Management and Research Company, Dragoneer Investment Group and Coatue also participated in that round.

Inside the S-1

The S-1 document provides a first look at Rivian’s financial data and other insights into the company as well as the risks and opportunities it faces.

Rivian reported a net loss of $426 million in 2019. Those losses more than doubled to $1 billion as the company built out its factory in Normal, Illinois, prepared to begin producing its R1T pickup truck and R1S SUV and expanded its workforce. The company now employs more than 8,000 people across several facilities in California, Michigan, Illinois and the U.K.

Developing ….

 

 

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