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10/29/2021, 5:51 PM (Source: TeleTrader)
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Amazon holds 20% stake in Rivian

In a filing submitted to the United States Securities and Exchange Commission (SEC) on Friday, Amazon.com Inc. revealed that it owns "preferred stock of Rivian Automotive, Inc. representing an approximately 20% ownership interest."

Electric vehicle producer Rivian had filed for an initial public offering (IPO) with the SEC earlier this month. However, it only announced that it plans to list Class A shares on the Nasdaq Global Select Market under the symbol "RIVN," without unveiling the date or the pricing of the IPO.

Rivian did disclose that its net loss for the first half of fiscal 2021 jumped 164% year on year to $994 million.

Baha Breaking News (BBN) / MS