Rivian, a US electric car startup backed by Amazon and Ford, will list on Nasdaq on Wednesday under the ticker symbol "RIVN". Morgan Stanley, Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. are co-lead underwriters of the offering.
Rivian
On November 9th Rivian announced an initial public offering of 153,000,000 class A ordinary shares at A public offering price of $78 per share. Rivian's IPO could raise as much as $11.9 billion.
Rivian, founded in 2009, is an electric vehicle startup backed by amazon, Ford, and Cox, according to documents. Rivian has completed a new round of financing totaling $2.5 billion, led by Amazon, Ford and others, according to the company's official website on July 23.
It also emerged in July that Rivian planned to invest $5bn in its second Us assembly plant. Construction of Rivian's second plant will begin in autumn 2021, with production expected to start in the second quarter of 2023.
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