Shares of Rivian Automotive Inc. will start trading Wednesday in New York after the electric vehicle-maker raised about $11.9 billion in the biggest initial public offering of the year.
The Irvine, California-based company sold 153 million shares in an upsized offering, according to a Tuesday statement that confirmed an earlier Bloomberg News report. It priced them at $78 each, higher than the top end of the marketed range, making the haul the sixth-largest ever on a U.S. exchange, data compiled by Bloomberg show.
Rivian (RIVN) IPO Set for Debut - Bloomberg
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