(New York) The American electric vehicle manufacturer Rivian, supported in particular by the giant Amazon, announced on Monday that it wanted to enter Wall Street at a valuation of more than $ 50 billion.
The company said in a document filed with the financial market police, the SEC, want to issue 135 million shares, or even 155.25 million with the over-allotment option, at a price between 57 and 62 dollars.
This would allow it to raise up to 9.63 billion dollars and implies, taking into account the over-allotment option, a valuation of between 50.3 billion and 54.7 billion.
Rivian would not be so far from the valuations of traditional manufacturers Ford ($ 71 billion) and General Motors ($ 81 billion) even though the start-up has barely taken its first vehicles off the production line.
The company, which had indicated in August wanting to enter Wall Street, has indeed delivered its first pickup truck, baptized R1T, in September and plans to sell its first SUVs, the R1S, in December.
It also plans to deliver 100,000 vans to e-commerce giant Amazon by 2030.
Rivian is capitalizing on the investor craze for electric vehicles, which saw Tesla recently rise above the symbolic $ 1 trillion market cap mark.
Founded in 2009, Rivian said this summer it had raised $ 10.5 billion in funds from private investors since 2019.
Amazon said Friday it owns about 20% of the company’s shares, which it valued at the end of September at $ 3.8 billion.
Rivian, only starting to sell his first vehicles, never turned a profit. He had lost $ 1 billion in 2020.
The group plans to join NASDAQ under the symbol RIVN.