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  /  News   /  IPO Report: Rivian prices IPO at $78 a share, raising a whopping $11.9 billion

IPO Report: Rivian prices IPO at $78 a share, raising a whopping $11.9 billion

Electric-vehicle maker Rivian Automotive Inc. priced its initial public offering at $78 a share Tuesday night, well above its expected range and valuing the company at $77 billion on a fully diluted basis.

The company plans to sell 153 million shares in its offering, raising $11.9 billion — a figure Bloomberg News reported makes it the largest IPO of the year and sixth-largest ever on a U.S. exchange.

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