Electric vehicle startup Rivian hopes to raise up $8.4 billion in its initial public offering, according to a regulatory filing posted Monday.
The company, which is backed by Amazon, said in the filing that it plans to offer 135 million shares at a price between $57 and $62. Underwriters also have an option to buy up to 20.25 million additional shares. If underwriters exercise that option, Rivian would raise as much as $9.6 billion.
Based on the number of outstanding shares, that would put its market valuation at about $53 billion. If employee stock options and other restricted shares are considered, Rivian’s valuation could be as high as $60 billion.
Rivian filed October 1 to become a publicly traded company in the United States. The S-1 …
