Young electric car maker Rivian's IPO filing included a note about “high-profile investors” who showed interest in buying up to $ 5 billion of its shares at a starting price. One such investor is Amazon, which has increased its stake in the company.
According to official documents, Amazon acquired Rivian's stake for about $ 200 million at an IPO price of $ 78 per share. A total of 2,564,102 shares were purchased. Thus, the total share of Amazon in the assets of Rivian is 158,363,834 shares, which is $ 20,579,380,228.3 when the market price of the share at the close of trading was $ 129.95. Since the trading giant paid just $ 78 per share in the last tranche, it initially saw upside potential of over $ 133 million.
In percentage terms, the volume of shares repurchased by Amazon was 1.6% of all marketable assets of Rivian. And taking into account previous investments, even before the IPO stage, Amazon's share in the automaker's capital increased to about 22%. The company's public listing was a major event, resulting in a massive fundraising and significant increase in the market capitalization of an electric vehicle manufacturer. According to Yahoo Finance, Rivian was worth $ 127 billion at the end of the week.
Given that the company produced just 12 electric vehicles in the third quarter, the cost of Rivian was about $ 10 billion per unit of production in the last reporting period. In the near future, this ratio will, of course, decrease.
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