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Rivian edges closer to an I.P.O., seeking a valuation above $50 billion.


RV_

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It's happening for anyone interested in IPOs. No one should invest because others do in anything without doing your own research and due diligence. I am not recommending anyone else do this investment.

From 1 November - today

Excerpt:

"Rivian, an electric truck maker backed by Amazon and Ford Motor, is aiming to be valued above $50 billion in its initial public offering next week.

The company updated its registration documents with the Securities and Exchange Commission on Monday to say it was aiming to sell 135 million Class A common shares priced between $57 and $62 a share, raising up to $8.4 billion.

Rivian is one of many start-ups hoping to capture a share of the electric vehicle market, which is expected to grow exponentially over the next two decades. The company is chasing Tesla, the leader in the field. Tesla recently topped $1 trillion in value, and it made its first full-year profit last year.

Amazon has invested over $1.8 billion in Rivian, and it disclosed last week that it held a 20 percent stake in the company. Amazon, which has been building up its own delivery operation, has a contract to buy 100,000 delivery vehicles from Rivian.

Founded in 2009, Rivian makes an upscale pickup truck and a sport-utility vehicle, both designed to be driven off-road. “Keep the world adventurous forever,” the company proclaims in its I.P.O. filing."

 

Source: https://www.nytimes.com/live/2021/11/01/business/news-business-stock-market#rivian-ipo-valuation

 

RV/Derek
http://www.rvroadie.com Email on the bottom of my website page.
Retired AF 1971-1998


When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius

 

“Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire

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