Sunday, November 28, 2021
More

    Latest Posts

    Rivian raises $10.5B in one of the hottest IPOs of 2021 – TechCrunch

    Electric car maker Rivian Set its initial public offering price at $ 78 per share, well above its target price as investors jumped into the most anticipated IPO of the year.

    According to well-known sources, the regulatory submission has not yet been posted and will be scheduled tonight. NS WSJ first reported IPO price quoting an unnamed source.

    The company, backed by Amazon, said in a filing earlier this month that it plans to offer 135 million shares at a price of $ 57 to $ 62. The underwriter also had the option to purchase additional shares of up to 20.25 million shares. Later, investors’ interest in the company raised the range from $ 72 to $ 74.

    The sale of the IPO raised $ 10.5 billion. With this sale, Rivian is valued at $ 66.5 billion. However, if the underwriter exercises these options, Rivian’s market capitalization could reach $ 68.1 billion.

    On a fully expanded basis, Rivian has a valuation of over $ 77 billion.

    Rivian on October 1st Listed companies In the United States. The S-1 document did not disclose the target price at that time. The amendment submitted on Monday provided new information, including interest from Rivian repeater Amazon and newcomer Blackstone.

    Amazon, T. With RowePrice Associates, Coatue Management, Franklin Templeton, Capital Research Global Investors, D1 Capital Partners LP, Third Point LLC, Funds related to Blackstone Alternative Asset Management, Dragoneer Investment Group LLC, and funds advised by specific related entities. Account Soros Fund Management LLC is interested in buying up to $ 5 billion in Class A common stock.

    Amazon’s recent submission has already been submitted by an e-commerce giant 20% stake in Rivian..

    Rivian raises $10.5B in one of the hottest IPOs of 2021 – TechCrunch Source link Rivian raises $10.5B in one of the hottest IPOs of 2021 – TechCrunch

    The post Rivian raises $10.5B in one of the hottest IPOs of 2021 – TechCrunch appeared first on California News Times.

    Source link

    Latest Posts

    Don't Miss

    Stay in touch

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