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Rivian raises $12B in one of the hottest IPOs of 2021



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Electric automaker Rivian has priced its initial public offering at $78 a share, pushing it far above its targeted share price as investors dove in the year’s most highly anticipated IPO.
Updated: the story haas been updated to reflect the regulatory filing figures.
The company offered 153 million shares of common stock at the $78 per share price, according to regulatory filing was posted late Friday evening. Rivian also gave underwriters an option to buy another 22.95 million shares, a higher number than previously expected.
The gross proceeds from the offering is expected to be about $11.9 billion, before accounting for commissions, discounts and other expenses. That amount also excludes the underwriters option to buy additional shares. If underwriters exercise those options, Rivian stands to …

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