Electric automobile company Rivian has confidentially filed for an IPO

Rivian, the electric lorry startup backed by a host of tactical and institutional investors, including Ford and Amazon, has in complete confidence filed documentation with the U.S. Securities and Exchange Commission to go public.

The size and cost range for the proposed offering have yet to be determined. The initial public offering is expected to happen after the SEC finishes its review process, based on market and other conditions, the brief statement said.

The personal filing comes less than 2 months because Rivian revealed it had closed a $2.5 billion personal funding round led by Amazon’s Environment Pledge Fund, D1 Capital Partners, Ford Motor and funds and accounts encouraged by T. Rowe Cost Associates Inc. 3rd Point, Fidelity Management and Research Study Business, Dragoneer Investment Group and Coatue likewise took part in that round.

The company did not share a post-money valuation at the time of the July 2021 statement. The electric automaker, which now employs 7,000 individuals, is preparing to provide its R1T pickup truck in September. The road to produce the R1T and an accompanying SUV requires capital, which Rivian has actually had little problem raising.

Rivian has raised roughly $10.5 billion to date. In January, the company generated $2.65 billion from existing financiers T. Rowe Cost Associates Inc., Fidelity Management and Research Business, Amazon’s Climate Promise Fund, Coatue and D1 Capital Partners. Brand-new investors likewise took part in that round, which pressed Rivian’s appraisal to $27.6 billion, a source knowledgeable about the financial investment round told TechCrunch at the time.

Developing……. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.