Rivian IPO: 5 things to know about the Amazon-backed electric-vehicle maker

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Electric-vehicle maker Rivian Automotive Inc. is set to become a public company, hoping to carve a niche for itself offering EVs for the great outdoors.Rivian RIVN, filed for a confidential IPO in August and publicly submitted the paperwork with security regulators last week. The company is seeking to sell $100 million worth of shares, although that’s often a placeholder used to calculate fees. Amazon.com Inc. AMZN, +1.14% and Ford Motor Co. F, -0.83% are among Rivian’s backers. The EV maker has raised $10.5 billion since 2019 after several investment rounds, with the latest a $2.5 billion funding round in July, led by Amazon.com’s Climate Pledge Fund, Ford, and T. Rowe Price funds, among others. Besides an electric pickup truck and an electric SUV, Rivian also plans to make electric delivery vans for Amazon and have its own charging network. Its IPO comes after several EV startups have gone
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