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DocAdvocate

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UPDATE: S-1 was filed today!

https://www.sec.gov/Archives/edgar/data/1874178/000119312521289903/d157488ds1.htm


Rivian is going public

Exciting news!

Rivian Files for IPO, Seeking About $80 Billion Valuation

August 27, 2021

Rivian Automotive Inc., the maker of electric pickups backed by Amazon.com Inc., has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter.

The Irvine, California-based startup said in a statement Friday that it submitted its S-1 registration to the Securities and Exchange Commission, confirming an earlier report by Bloomberg News. The company would like to do an IPO around the Nov. 25 Thanksgiving holiday, said the people, who asked not to be identified because the filing was confidential. The timing will depend on approval from the SEC.

Should Rivian go public at an $80 billion market capitalization, it would be one of the biggest debuts on that basis this year. With $10.5 billion raised from backers including Amazon and Ford Motor Co., an established factory in Illinois and thousands of reservation holders for its R1T truck and R1S sport utility vehicle, Rivian is among the most serious competitors lining up to take on electric-vehicle leader Tesla Inc.

Rivian said in its statement that the size and price range for the proposed offering have not yet been determined. The company is working on the IPO with advisers including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley, Bloomberg News reported in May.

Amazon shares rose as much as 0.6% shortly after the start of regular trading, while Ford advanced more than 2%. Rivian’s institutional investors include T. Rowe Price, BlackRock, Soros Fund Management, Fidelity, Coatue and Third Point.

While the company has a who’s-who list of backers, it has yet to delivery any vehicles to retail customers and has encountered multiple setbacks starting production. The Covid-19 pandemic has brought about supply-chain disruptions and parts shortages that have forced Chief Executive Officer R.J. Scaringe to postpone its model launches several times.

Even so, the company has grand plans. It’s scouting locations for a European manufacturing site, Bloomberg News reported in February, and is in talks with the city of Fort Worth, Texas, about investing at least $5 billion in a second U.S. assembly plant.

The R1T pickup is slated to go into limited production this month and boasts 400 miles of driving range. The company will build the truck and the R1S, which has been delayed indefinitely, at a former Mitsubishi Motors Corp. plant in Normal, Illinois.

Rivian also has a contract with Amazon to build 100,000 electric delivery vans by the end of the decade, with 10,000 due by the end of next year.

Equity capital markets have seen a slew of big IPOs this year, including Robinhood Markets Inc. Another large startup, restaurant payments firm Toast Inc., filed on Friday for its offering, while eyewear retailer Warby Parker Inc. unveiled its financials earlier this week ahead of a direct listing.
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Blueassassin

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Anyone else worried the IPO is going to be overpriced when it first comes out? I've never bought an IPO but I dabble in Stocks and plan on buying once its available.
 

fromSf

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That's great news! Seems overpriced, regardless Rivian has lot of potential.
 

JeremyP

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Is this our Friday news? Still, I would put some money into their stock.
 

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Average Joes rarely get access to front-end IPO shares, so its probably best to let the initial euphoria wear off. Buying shares a few weeks past IPO often presents a better value. I'm sure there are exceptions.
 

SANZC02

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Anyone else worried the IPO is going to be overpriced when it first comes out? I've never bought an IPO but I dabble in Stocks and plan on buying once its available.
This is just my opinion....

80 sounds high, I thought 70 was going to be high and was hoping for 50-60. I will have to see what kind of information they release prior to the offering. I need number of preorders (LE and Non-LE) number of deliveries, what the supply chain is looking like, what the ramp up curve looks like, how the Amazon van lines are doing. I'd also like some information on time lines for the EU and second US plants.

I'm still interested in the stock but at that price might take a couple of years for any real growth. It has me a bit more hesitant then I was when I initially heard the IPO was coming.
 

Rhidan

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So when are they announcing the pre-order directed share program :CWL:
 

bajadahl

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The R1T pickup is slated to go into limited production this month and boasts 400 miles of driving range. The company will build the truck and the R1S, which has been delayed indefinitely, at a former Mitsubishi Motors Corp. plant in Normal, Illinois.
bold is mine…. Pretty sure this is not true but is lousy reporting or attempting to keep the value down..lol

of course if true that would be a very bad day for those of us waiting for the R1S.

Edit: to be clear I was not blaming you @DocAdvocate - that Info is straight from the Bloomberg article.
 

RivianXpress

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If you bought $1000 worth of TSLA at their IPO you’d have more than enough to buy a Model S Plaid today.
 
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Chris S

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$80B is higher than Ford, GM, and Stellantis, and they have a limited product line, no public sales, no track record, etc. Much as I love the company and am looking forward to getting my Rivian, I'd rather short it @ $80B.
 

SANZC02

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bold is mine…. Pretty sure this is not true but is lousy reporting or attempting to keep the value down..lol

of course if true that would be a very bad day for those of us waiting for the R1S.
Just poor reporting unless they are specifically talking about the longer range R1S, there has been no projected release for that. They have stated several times the R1S will be following later in the fall.

With all of the truck offerings on the horizon, personally the R1S seems like it will end up being a bigger seller for them than the truck. I do not see anyone announcing anything in the near future that would compete with it.
 

cohall

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Would love to take a look at their S-1. Should be some juicy bits of info in there. Too bad they filed it confidentially (though not at all surprising).
 

RivianXpress

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I gotta believe we’ll see EPA numbers real s00n!
 

crashmtb

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I just want to give them money in exchange for an R1T. Ain’t give a care about stonks.
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