Rivian prices shares at $ 78 in highly anticipated IPO


Rivian Automotive Inc. priced its long-awaited IPO at $ 78 per share, well above rising expectations, and valued the electric car maker at more than $ 77 billion on a completely diluted basis, according to a person familiar with the matter.

The company, backed by Inc., was expected to raise around $ 12 billion in the offer by selling more shares than originally planned. The amount of shares to be sold was still moving late Tuesday, said a person familiar with the case, so that the number could be changed.

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