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Rivian Lures Blackstone, Coatue to IPO of Up to $8.4 Billion

  • Amazon-backed electric truck maker to be valued at $53 billion
  • Cornerstone investors showed interest for $5 billion of stocks
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Rivian Ready to Go Public Valued at $53 Billion
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Rivian Automotive Inc., the electric truck maker backed by Inc., is seeking to raise as much as $8.4 billion in an initial public offering that could give it a market value of as much as $53 billion. 

Rivian said it plans to sell 135 million shares for $57 to $62 each, according to a filing Monday with the U.S. Securities and Exchange Commission, reaching that value at the top of the range based on the outstanding shares listed in its filing.