rivian stock

Rivian increases $12B in one of the freshest IPOs of 2021

rivian stock – Electric automaker Rivian has priced its initial public offering at $78 a share, pushing it some distance above its focused share price as traders dove inside the yr’s maximum enormously expected IPO.

The corporation presented 153 million shares of common stock at the $78 in step with proportion rate, in step with regulatory submitting changed into published past due Friday nighttime. Rivian also gave underwriters an choice to buy every other 22.Ninety five million stocks, a higher number than formerly expected.

The gross proceeds from the offering is anticipated to be about $11.9 billion, before accounting for commissions, discounts and other prices. That amount additionally excludes the underwriters choice to buy additional stocks. If underwriters exercising the ones alternatives, Rivian stands to elevate a total of $thirteen.8 billion.

On a totally dilated foundation, that places Rivian’s valuation at more than $77 billion.

The agency, that is backed with the aid of Amazon, stated in a filing earlier this month that it deliberate to offer a hundred thirty five million stocks at a fee between $57 and $sixty two. Underwriters additionally had an option to shop for up to 20.25 million extra shares. It then upped the variety to between $72 and $74 due to investor interest in enterprise.

Rivian filed October 1 to become a publicly traded business enterprise inside the United States. The S-1 report did now not disclose the targeted share charge at the time. An amended report filed Monday provided the new facts, which blanketed hobby from repeat backer Amazon and newcomer Blackstone in Rivian.

Amazon, budget and bills counseled with the aid of T. Rowe Price Associates, Coatue Management, Franklin Templeton, Capital Research Global Investors, D1 Capital Partners LP, Third Point LLC, budget affiliated with Blackstone Alternative Asset Management, Dragoneer Investment Group LLC and sure entities affiliated with Soros Fund Management LLC have indicated an hobby in buying up to $five billion of stocks of Class A commonplace stock.

A recent submitting through Amazon indicates the e-commerce massive already holds more than a 20% stake in Rivian