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Rivian Automotive is expected to go public at a higher market cap than FedEx
Nov. 09, 2021 2:48 PM ETRivian Automotive, LLC (RIVN)By: Clark Schultz, SA News Editor12 CommentsSpencer Platt/Getty Images News
- Rivian Automotive (RIVN) is now expected to price its initial public offering above the top of the marketed range of $72 to $74 per share, according to Bloomberg.
- Rivian is offering 135M shares in the IPO, which means if it were to price the IPO at $75 it would bring in $10.1B to help fund the company.
- A stronger-than-anticipated pricing would also raise the market cap of Rivian to above $70B or bigger than the caps for FedEx, Lululemon or Capital One.
- Rivian Automotive (RIVN) is expected to price its IPO tonight and officially go public tomorrow.
- Dig through the early analysis on Rivian from Seeking Alpha authors.