For a while now, followers, fans, and stock market speculators have been keeping their eyes on Rivian. The question on everyone’s minds, aside from whether the R1T is actually going to deliver on its promises or not, is whether the company would go public. Now we finally have an answer: Rivian released a statement this week that it has submitted its S-1 registration to the Securities and Exchange Commission (SEC).
The initial public offering is expected to take place once the SEC is done with its review process. According to Automotive News, that means the IPO will be ready right around this year’s Thanksgiving Holiday. The final date of the IPO will be determined by the SEC and when it decides to approve the offering.
Automotive News also reports that the company is seeking an $80 billion valuation from the SEC. That might seem like an absurdly high number for an automaker that technically still hasn’t delivered a single vehicle, but all signs point to the fact that Rivian is a serious contender. It has legit backing from Ford and the internet juggernaut that is Amazon.
The company has reportedly raised more than $10 billion in financial backing, and some of its primary investors include T. Rowe Price, Soros Fund Management, and Fidelity. Despite Covid-19 related delays, Rivian has said it will start deliveries before the end of this year. Coupled with the IPO that’s potentially happening toward the end of the year, it’s looking like the EV automaker could have a very green Christmas.
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