(Bloomberg) Rivian Automotive Inc., the electric-vehicle startup backed by Amazon.com Inc. and Ford Motor Co., is looking to go public as soon as September at a valuation of about $50 billion and perhaps more, according to people familiar with the matter.The company’s timeline for an initial public offering and its potential value might change, and a listing could happen later in the year or even slip to 2022, said the people, who asked not to be identified discussing private information. Rivian has been speaking to bankers about its plans, one of the people said.Rivian, one of the highest-profile potential competitors to Tesla Inc., has raised more than $8 billion to date from investors who expect its battery-electric pickup and SUV to perform well in the U.S. market. At a $50 billion valuation, it would likely be one of the biggest IPOs of the year and one of the most noteworthy EV listings since Tesla’s 2010 offering.The startup was valued at $27.6 billion in a fundi
By John Jannarone and Jarrett Banks Electric aircraft startup Archer Aviation Inc. is going public by merging with a special purpose acquisition company, or SPAC, called Atlas Crest Investment Corp. (NYSE: ACIC), the startup said in a statement. The $3.8 billion deal is expected to close in the second quarter of 2021, and will provide about $1.1 billion in […]
Archer Aviation, the electric aircraft startup targeting the urban air mobility market, has landed United Airlines as a customer and an investor in its bid to become a publicly traded company via a merger with a special purpose acquisition company. Archer Aviation said Wednesday it reached an agreement to merge with special purpose acquisition company Atlas Crest Investment Corp., an increasingly common financial path that allows the startup to eschew the once traditional IPO process. The combined company, which will be listed on the New York Stock Exchange with ticker symbol "ACHR," will have an equity valuation of $3.8 billion.
Xos Trucks (NGAC) and Lion Electric (NGA) Are Both Set To Go Public by Merging With a SPAC – Which One Is Better? Feb 10, 2021 06:35 EST
Xos Trucks, a manufacturer of electric trucks for the commercial sector, is the latest entrant in a long line of EV companies opting to go public by merging with a Special Purpose Acquisition Company (SPAC). However, as the EV sphere grows more crowded, investors are invariably looking to cut through this plethora of choices in order to pick portfolio winners. To this end, we will try to compare the prospects of Xos Trucks with those of Lion Electric – another company that produces similar products.
BALA CYNWYD, PA / ACCESSWIRE / February 8, 2021 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Tortoise Acquisition Corp. II ("Tortoise" or the "Company") (NYSE:SNPR) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Tortoise, a special purpose acquisition company, will combine with Volta Industries, Inc.