Rivian attracted more investment than expected

Rivian attracted more investment than expected

FineAuto

Unexpectedly for themselves, the Rivian company was able to earn a tidy sum on its shares, which the startup listed on the Nasdaq exchange. In total, we managed to raise about $ 11.9 billion.

Rivian sold about 153 million shares at a price of $ 78 per share, which is slightly higher than the expected $ 72-74. However, it would be very naive to declare an unexpected rise in the value of securities, since the company has been on the radar lately. However, we must not forget that the manufacturer also had several not particularly disagreeable incidents. First of all, we are talking about too small production volumes and the recent fire.

But in the end, all this did not prevent the startup from attracting increased attention of the moneybags investors. Rivian is now valued at approximately $ 76.4 billion. For comparison, in January the company was valued at $ 27.6 billion, and the company’s plans were to reach the level of $ 50 billion.

According to Western journalists, Amazon, T. Rowe Price, Coatue Management, Franklin Templeton, Capital Research Global Investors, D1 Capital, Third Point Investors, Blackstone Inc., Dragoneer Investment Group and various Soros funds bought back the $ 5 billion shares .

Note that until now Rivian keeps afloat only by attracting investments. Last year, the company posted a loss of $ 377 million, and in the first half of this year, the figure has already reached the $ 1 billion mark.

Add your comment

Your email address will not be published. Required fields are marked *