Ford Motor is selling 8 million of its Rivian Automotive shares, with the insider lockup for the stock of the once high-flying electric vehicle maker is set to expire on Sunday, sources told CNBC’s David Faber.
The automaker currently owns 102 million shares of Rivian. Ford will be selling the shares through Goldman Sachs, sources said.
The lockup defines a period of time after a company has gone public when early investors and company insiders cannot sell their shares. That ensures the IPO is carried out in an orderly manner and does not flood the market with additional shares.
- New York Post: Front Page: “Joe’s Train Wreck”
- A large fire is spreading from a pallet yard behind the US Foods distribution center in Phoenix, Arizona
- Madison Cawthorn Kicked Out of Congress for Blowing the Whistle on GOP Orgies and Calling Out Zelensky
- From 1958, 2003/06 – CDC Vaccine Adverse Events, Smallpox – Holy Hell
- A “Smallpox-Like Virus” Has Now Spread To Spain, Portugal And The United States
- UTTER CARNAGE: The Stock Market Is Coming Apart Like A 20 Dollar Suit As Fear Sweeps Through Wall Street
- CRISIS IN SRI LANKA, No Gas, No Food, Country is Bankrupt, Politicians Being Beat, Murdered, Gov Buildings on Fire, Over 3000 killed in last 24 hours
- 5th Circuit Court finds SEC operates unconstitutionally
- War Is Over But They Won’t Tell You
- The Biden Admin Calls for End of First and Second Amendment in Response to Buffalo Shooting