Billion IPO of Tesla rival: Rivian traded high before IPO

Of the US-Elektroautoentwickler Rivian will get rid of its shares in the planned IPO at a higher price than originally thought. The price range for the placement of 135 million Rivian shares will be raised to $ 72 to $ 74. This emerges from the documents filed with the Securities and Exchange Commission on Friday. So far, the range had been $ 57 to $ 62. Measured against the mean value of the new range, the proceeds will be just under ten billion dollars (8.6 billion euros).

If the 20 million papers available for a so-called over-allotment were also available for the IPO, the income would be a little more than eleven billion dollars. The e-car company, whose major investors include Amazon and Ford, is listing its papers on the New York technology exchange NASDAQ under the ticker symbol “RIVN”. The retail premiere is expected in the coming week.

Seventh largest IPO in US history?

If the IPO should bring in ten billion dollars, it would be the seventh largest in US history, according to the Bloomberg news agency. The market capitalization of the approved shares would be around $ 63 billion – including the shares reserved for employee compensation and other shares, the value of the company would be around $ 71 billion, about two and a half times as much as a financing round in January.

Rivian launched its first electric model in the competitive pick-up segment in September, winning a race with Tesla, among others. In addition, the company, which was founded in 2009, has lucrative large orders for Amazon delivery vans under its belt. Rivian is not yet making any sales and is deep in the red. (dpa-AFX / gem)

Also read:

“Toxic Bro Culture”: Fired Manager Sues Rivian

Before Tesla Cybertruck: Rivian builds first R1T for customers

Worth more than GM and Ford? Rivian wants to go public for 80 billion dollars

Search for second factory underway: Rivian raises 2.5 billion US dollars

From the data center:

Car brand valuation in the USA

Source link

Lenny Li

I started to play with tech since middle school. Smart phones, laptops and gadgets are all about my life. Besides, I am also a big fan of Star War. May the force be with you!

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button