Rivian Automotive, Inc. (ticker RIVN) became a publicly traded company today at a price of $78 a share and is trading well above its IPO price. The gross proceeds from the offering to Rivian, before deducting underwriting discounts and commissions and other offering expenses payable by Rivian, are expected to be approximately $11.9 billion, excluding any exercise of the underwriters’ 30-day option to purchase up to an additional 22,950,000 shares of Class A common stock at the initial public offering price.
The Rivian R1T 5-seater all-electric truck, measures 217.1 inches in length on a 135.8 inch wheelbase, has an EPA estimated range of 314 miles with a starting price of $67,500 and up to 11,000 lb. towing capacity. In January 2022, an R1T with a 400+ mile range will be available, and there will be an R1T with a 250+ mile range.
The Rivian R1S 7-seater all-electric truck, measuring 200.8 inches on a 121.1 inch wheelbase, delivers an EPA estimated 316 miles with a starting price of $70,000, up to 7,700 lb. towing capacity and a 0-60 mph time as quick as 3 seconds. The R1S can drive through 3+ feet of water, rock crawl at a 100% grade and traverse just about any terrain with 14.9 inches of ground clearance. Driver+ has 11 cameras, 5 radars, 12 ultrasonic sensors and 360º field of vision. After launch, news of a 250+ mile and longer range R1S, with seven seats.