According to a new regulatory filing, Rivian is hoping to raise as much as $8.4 billion through its initial public offering (IPO) later this year.
To raise that much money the company is planning to offer 135 million shares at between $57 and $62 per share.
An additional 20.25 million shares will be available to underwriters, which if exercised would raise as much as $9.6 billion, according to a report by TechCrunch.
Based on those figures, Rivian’s market valuation would be about $53 billion. It could be as high as $60 billion if employee stock options and other restricted shares are taken into account.
Some early reservation holders will be among the first to have a chance at buying the stock.
Last month the company announced pre-registration for a Directed Share Program, which will reserve a limited number of shares for early reservation holders to purchase.
Rivian will trade under the ticker symbol RIVN on the NASDAQ exchange.