Rivian seeks $60 billion valuation, hopes to raise up to $9.6 billion through IPO

Rivian factory

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.

That would put Rivian, which has so far only delivered around 50 cars to employees, would be valued higher than Honda, Ferrari, and Stellantis.

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.

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