Rivian Automotive Enters Material Definitive Agreement

Ticker: RIVN · Form: 8-K · Filed: 2024-05-03T00:00:00.000Z

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation, 8-k

TL;DR

Rivian just signed a big deal, could be good or bad for cash flow.

AI Summary

On May 2, 2024, Rivian Automotive, Inc. entered into a Material Definitive Agreement related to a direct financial obligation. The company, incorporated in Delaware, filed an 8-K report with the SEC on May 3, 2024, detailing this event. The filing pertains to Item 1.01 and Item 2.03 of the 8-K form.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Rivian, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can introduce uncertainty and potential risks related to the terms and impact on the company's balance sheet.

Key Numbers

Key Players & Entities

FAQ

What specific type of material definitive agreement did Rivian Automotive, Inc. enter into?

The filing states Rivian entered into a Material Definitive Agreement, and it also constitutes the Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, but the specific nature of the agreement is not detailed in the provided text.

What is the date of the earliest event reported in this 8-K filing?

The date of the earliest event reported is May 2, 2024.

When was this 8-K filing submitted to the SEC?

This 8-K filing was submitted on May 3, 2024.

What are the principal executive offices of Rivian Automotive, Inc. according to this filing?

The principal executive offices are located at 14600 Myford Road, Irvine, California 92606.

Which items of the 8-K form are being reported on?

This filing reports on Item 1.01 (Entry into a Material Definitive Agreement) and Item 2.03 (Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant), as well as Item 7.01 (Regulation FD Disclosure) and Item 9.01 (Financial Statements and Exhibits).

From the Filing

0001874178-24-000034.txt : 20240503 0001874178-24-000034.hdr.sgml : 20240503 20240503083150 ACCESSION NUMBER: 0001874178-24-000034 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240502 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240503 DATE AS OF CHANGE: 20240503 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Rivian Automotive, Inc. / DE CENTRAL INDEX KEY: 0001874178 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41042 FILM NUMBER: 24910911 BUSINESS ADDRESS: STREET 1: 14600 MYFORD ROAD CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: (888) 748-4261 MAIL ADDRESS: STREET 1: 14600 MYFORD ROAD CITY: IRVINE STATE: CA ZIP: 92618 8-K 1 rivn-20240502.htm 8-K rivn-20240502 0001874178 FALSE Rivian Automotive, Inc. / DE 0001874178 2024-05-03 2024-05-03 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 8-K ___________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 May 2, 2024 Date of Report (date of earliest event reported) ___________________________________ Rivian Automotive, Inc. (Exact name of registrant as specified in its charter) ___________________________________ Delaware (State or other jurisdiction of incorporation) 001-41042 (Commission File Number) 47-3544981 (IRS Employer Identification Number) 14600 Myford Road Irvine , California 92606 (Address of principal executive offices) (Zip code) ( 888 ) 748-4261 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) ___________________________________ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Class A common stock, $0.001 par value per share RIVN The Nasdaq Stock Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company     ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐ Item 1.01 - Entry into a Material Definitive Agreement. On May 2, 2024, Rivian Automotive, LLC, and Rivian, LLC, subsidiaries of Rivian Automotive, Inc. (collectively, the “Company”), and the State of Illinois (the “State”) acting by and through the Department of Commerce and Economic Opportunity (the “DCEO”) entered into a REV Tax Credit Agreement (the “Agreement”), effective as of April 29, 2024 (the “Effective Date”). Pursuant to the Agreement, the

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