Rivian Automotive, Inc. announced that it has received $2.650000315 billion in funding from T. Rowe Price Associates, Inc., Fidelity Management & Research Company LLC, Amazon.com Inc., Investment Arm, Coatue Management, L.L.C., D1 Capital Partners L.P., Global Oryx Company Limited and other investors
January 18, 2021
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Rivian Automotive, Inc. announced that it has issued 71,913,170 series F preferred shares at a price of $36.85 per share for gross proceeds of $2,650,000,314.50 led by funds and accounts advised by existing investor T. Rowe Price Associates, Inc. on January 18, 2021. The transaction included participation from existing investors Global Oryx Company Limited, Amazon.com Inc., Investment Arm, Fidelity Management & Research Company LLC, Coatue Management, L.L.C., D1 Capital Partners L.P. as well as several other existing and new investors. The shares are convertible, non-cumulative, non-redeemable and participating. The shares carry non-cumulative fixed dividend rate of 8% per annum. The shares are convertible into common shares of the company at a fixed conversion price of $36.85 per share. The round was raised at post-money valuation of $27,600,000,000. The company has raised $8,000,000,000 in funding till date.
Rivian Automotive, Inc. is an automotive manufacturer, which is engaged in developing and building category-defining electric vehicles (EVs) and accessories. The Companyâs R1 platform offers the first-generation consumer vehicles: the R1T, a two-row five-passenger pickup truck, and the R1S, a three-row seven-passenger sport utility vehicle (SUV). In the commercial market, the Company offers Rivian Commercial Vehicle (RCV) platform. The Companyâs vehicle on this platform is Electric Delivery Van (EDV), designed and engineered by Rivian in collaboration with Amazon. Alongside its commercial vehicles, it offers FleetOS, its proprietary, end-to-end centralized fleet management subscription platform. It also offers a variety of services, including financing and insurance, vehicle maintenance and repair, charging and FleetOS solutions. Its value-added services include digitally enabled financing and leasing, telematics-based insurance, proactive vehicle service, software services, and more.
Rivian Automotive, Inc. announced that it has received $2.650000315 billion in funding from T. Rowe Price Associates, Inc., Fidelity Management & Research Company LLC, Amazon.com Inc., Investment Arm, Coatue Management, L.L.C., D1 Capital Partners L.P., Global Oryx Company Limited and other investors