Rivian Automotive Inc. said in a securities filing Friday it has amended its share price in its forthcoming IPO to an estimated $72 to $74.
That range would be up from the company’s previous estimate of $57 to $62.
The update gives the Irvine electric vehicle maker a $64.6 billion valuation at the high point of the range and a $63.7 billion valuation at the midpoint, if the underwriters exercise their stock options.
The company could raise as much as $11.5 billion in its IPO based on the high end of the range.
For more on Rivian, see the Nov. 8 print edition of the Business Journal.