Wednesday, November 3, 2021

Rivian Nears IPO, Eyes $55 Billion Valuation

Irvine-based electric vehicle maker Rivian is nearing its IPO, saying in a filing this week that it plans to offer up 135 million shares of its stock at between $57 to $62 per share. The company is expected to potentially hit the market next week. The pricing gives Rivian a valuation of as much as $54.6M, with the IPO bringing in as much as $9.6 billion in cpiatl from the company. Rivian has applied to list on the Nasdaq as RIVN. Rivian's IPO is being underwritten by Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan, Barclays, Deutsche Bank Securities, Allen & Company LLC, BofA Securities, Mizuho Securities, Wells Fargo Securities, Nomura, Piper Sandler, RBC Capital Markets, Baird, Wedbush Securities, Academy Securities, Blaylock Van, LLC, Cabrera Capital Markets LLC, C.L. King & Associates, Loop Capital Markets, Ramirez & Co., Inc., Siebert Williams Shank, and Tigress Financial Partners. The company's largest shareholders are Amazon, T. Rowe Price, Global Oryx Company, Ford Motor Company, and Mannheim Investments.