Rivian Raises $12b In One Of The Hottest Ipos Of 2021


Rivian, an electric car manufacturer, priced its IPO at $78 per share, much above its target price, as investors rushed to the year’s most anticipated IPO.

According to a regulatory document issued late Tuesday evening, the business offered 153 million shares of ordinary stock at a price of $78 per share. Rivian also provided underwriters the option to purchase an additional 22.95 million shares, which was greater than planned.


Before commissions, discounts, and other fees, the overall proceeds from the transaction are projected to be around $11.9 billion. This figure does not include the underwriters’ option to acquire more shares. Rivian may raise a total of $13.8 billion if underwriters exercise those options.

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Rivian is now valued at more than $77 billion on a fully dilated basis. In a filing earlier this month, the business, which is funded by Amazon, said it wanted to issue 135 million shares at a price between $57 and $62. Additionally, underwriters had the opportunity to purchase up to 20.25 million additional shares. Due to investor interest in the firm, the range was subsequently increased to between $72 and $74.

Rivian applied to become a publicly listed corporation in the United States on October 1. The target share price was not disclosed in the S-1 paperwork at the time. The additional information was contained in a revised document filed Monday, which revealed interest in Rivian from both Amazon, a repeat investor, and Blackstone, a newcomer.

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