Rivian sees share price up to $62 for imminent IPO

Posted on November 3, 2021

*Amazon and Ford are among Rivian’s biggest investors as the company started producing pickup trucks at its plant in Normal. (WJBC file photo)*

NORMAL – It will cost the public between $57 and $62 to buy a share of Rivian stock at its initial public offering, which could happen in the coming days, according to various media reports.

Rivian will trade under the symbol “RIVN” on the Nasdaq exchange, offering 135 million shares of Class A common stock, according to its latest filing Monday with the U.S. Securities and Exchange Commission.

Rivian hopes to raise $9.6 billion assuming the IPO’s underwriters exercise their option to buy up to 20.25 million shares.

Amazon and Ford are among Rivian’s biggest investors as the company started producing pickup trucks at its plant in Normal.

Rivian is looking at sites for a second factory, and it’s planning the largest expansion so far at the plant in Normal, intending to build a 623,000 square foot addition, according to documents filed with Normal’s town government.

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