Deal Details

Rivian Completes $13.7 Billion IPO

Technology & Services
Industrial

Rivian IPO

Summary

Rivian Automotive, Inc. (“Rivian” or the “Company”) (NASDAQ-GS:RIVN) recently completed its upsized initial public offering of 175,950,000 shares of Class A common stock, including the exercise in full of the underwriters’ overallotment option, at a price of $78.00 per share, generating gross proceeds of approximately $13.7 billion. The Company intends to use the net proceeds from the offering for working capital, to fund growth and for other general corporate purposes.

Baird served as a co-manager on this offering.

About

Rivian designs, develops, and manufactures category-defining electric vehicles and accessories. The Company sells directly to customers in consumer and commercial markets. Rivian’s vehicles are complemented by a full suite of proprietary, value-added services that address the entire vehicle lifecycle and deepen its customer relationships. Starting with a clean sheet, the Company built a vertically integrated ecosystem comprised of its vehicle technology platform, Rivian Cloud, product development and operations, products and services. Interconnected by the Company’s data and analytics backbone, its ecosystem is designed to deliver fast-paced innovation cycles, structural cost advantages and exceptional customer experiences, all of which combine to create a self-reinforcing growth dynamic while serving its mission to Keep The World Adventurous Forever. Founded in 2009, Rivian is headquartered in Irvine, California.

Technology & Services
Industrial

Rivian IPO