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EV maker Rivian prices IPO above range to raise over $11.9 billion

Amazon-backed electric vehicle (EV) maker Rivian sold shares in its initial public offering (IPO) at $78 per share, above its target range, to raise more than $11.93 billion, the company said on Tuesday. Rivian priced an upsized IPO of 153 million shares at $78 per share, the company said On Friday, Rivian had boosted its price range to $72 to $74 per share, up from an earlier range of $57 to $62.

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