Amazon and other big winners from Rivian’s supercharged IPO – crunchbase news

In an already record year for public offers, the electric vehicle manufacturer Rivien ‘The initial public offering is expected to be the largest IPO of 2021.

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While Rivian is more or less a pre-income company, the size of its IPO shows that investors are betting big on an electric future. This makes sense, given a plethora of public policy mandates that have spurred the shift to electric vehicles, and how badly You’re herethe action of performed well this year.

Rivian first raised debt financing about a decade ago, but the majority of his fundraising has been in the past two years or so. His first round of financing that was not debt financing was a $ 700 million corporate round led by Amazon in February 2019, according to data from Crunchbase. As a private company, it has raised around $ 10.5 billion in funding.

The company has set a price range of between $ 72 and $ 74 per share for its IPO. If he is at the top of his range, Rivian could be valued at $ 65 billion.

While Rivian shares are expected to start trading on the Nasdaq on Wednesday under the ticker RIVN, let’s take a look at the investors who are expected to earn big from the public offering.

Amazon: Amazon said in 2019 it would order up to 100,000 electric delivery vans from Rivian as part of an effort to electrify its delivery fleet. That same year, she decided to invest $ 700 million in the electric vehicle maker. The fleet partnership means that Rivian has a steady stream of income from a company with deep pockets. After participating in several other round tables, Amazon is now Rivian’s largest shareholder, with more than 160 million Class A shares, or 22%, before the offer. If Rivian values ​​his shares at the top of his range ($ 74), Amazon’s stake in the company would be worth $ 11.8 billion.

Price T. Rowe: T. Rowe Price has been a major investor in Rivian, leading three funding rounds and co-leading a fourth, according to data from Crunchbase. It should also be noted that T. Rowe Price led Rivian’s most important fundraising rounds. It is now the second largest shareholder in the company, after Amazon, and owns more than 133.6 million shares, or nearly 19%, before the offer. At the top of Rivian’s IPO price range, T. Rowe Price’s stake is around $ 9.9 billion.

Global Oryx Company Ltd. : Global Oryx Company, a subsidiary of Abdul Latif Jameel Companies, invested in Rivian, becoming one of the major shareholders of the company. Prior to Rivian’s offer, the company owned nearly 16% of Rivian’s shares. If Rivian’s stock prices were at the top of their range, his stake would be worth around $ 8.4 billion.

Ford Motor Co.: Ford is in the process of going electric, but it is also a major investor in Rivian. The auto giant led Rivian’s $ 500 million round in 2019 and has invested in subsequent rounds. The company held around 14% of the company’s shares before the offer. If Rivian was priced at $ 74 per share, Ford’s stake would be worth nearly $ 7.6 billion.

Manheim Investments: Manheim Investments is listed as one of Rivian’s major shareholders. If this name is not familiar to you, it’s because Beetle Automotive led a $ 350 million funding round in Rivian in September 2019 and, according to Rivian’s S-1 filing, Manheim Investment, a wholly owned subsidiary of Cox Automotive, acquired the shares. The company’s stake in Rivian before the offer is approximately 5.5%. At the top of Rivian’s lineup of IPOs, the company’s stake is reportedly worth around $ 2.9 billion.

Photo courtesy of Rivian

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