Monday, November 29, 2021
More

    Latest Posts

    Rivian priced its IPO at $ 78 per share, raising a whopping $ 11.9 billion

    Electric vehicle maker Russian Automotive Inc. rated its initial public offering price at $ 78 billion per share, well above expectations, at $ 77 billion on a fully diluted basis on Tuesday night.

    The company plans to sell 153 million shares for the sale and raise $ 11.9 billion. Bloomberg News This is reportedly the largest IPO of the year and the sixth largest IPO ever on a US exchange.

    Last week, a company based in Irvine, California Raised the estimated price range From the initial range of $ 57 to $ 62 per share, to between $ 72 and $ 74, respectively.

    Rivian will open trading on Wednesday with the ticker symbol “RIVN” on Nasdaq.
    RIVN..

    Amazon.com Inc.
    AMZN,
    + 2.50%

    And Ford Motor Co., Ltd.
    NS,
    -0.15%

    One of the supporters of Rivian. EV makers have raised $ 10.5 billion since 2019 after several investment rounds, with the latest $ 2.5 billion funding round taking place in July.

    In addition to electric pickups and electric SUVs, Rivian will manufacture electric delivery vans for Amazon and build its own charging network.

    Morgan Stanley, Goldman Sachs Group, Inc. and JPMorgan Chase & Company are lead managing underwriters for this offering.

    Claudia Assis contributed to this report.

    Rivian priced its IPO at $ 78 per share, raising a whopping $ 11.9 billion

    Source link Rivian priced its IPO at $ 78 per share, raising a whopping $ 11.9 billion

    The post Rivian priced its IPO at $ 78 per share, raising a whopping $ 11.9 billion appeared first on Eminetra.

    Latest Posts

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.