Electric-vehicle startup Rivian priced its IPO at $78 a share, a person familiar with the matter said, valuing the company at more than $77 billion in a sign of strong demand
highly anticipated initial public offering
at $78 a share, well above its raised expectations, valuing the electric-vehicle maker at more than $77 billion on a fully diluted basis, according to a person familiar with the matter. The company, backed by Amazon.com Inc., raised nearly $12 billion in the offering by selling more shares than it originally planned. Rivian said on Friday that it aimed to sell shares at a price of $72 to $74 apiece, up from
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