Rivian's S-1 IPO filings contained a note that the EV company had "indicated interest" in purchasing up to $5 billion of its stock at its IPO prices. Amazon was one of those parties, and it appears that the American ecommerce giant pulled the trigger on Friday afternoon.
Amazon purchased roughly $200 million of Rivian stock, at a price of $78 per shares, according to a Form 4 filing. This purchase amounted to 2,564,102 shares, just a fraction of the target dollar amount at $800 million.
Amazon now holds a total of 158.363,834 Rivian shares, which are valued at around $20,579.380,228.3 at today's closing price, $129.95 per share. Amazon purchased its latest tranche of Rivian stock for $78 per share, a gain of over $133 million.
Amazon's recent purchase of Rivian stock for its IPO price amounts to 1.6% of its total stake. This is after it has converted its various preIPO holdings and warrants to Class A shares. The company is now publicly traded. Amazon now holds 22% of Rivian, based on its past ownership.
Rivian's IPO was a huge success, raising a lot of capital for the EV manufacturer and boosting its market cap to the top. Yahoo Finance shows, for instance, that Rivian's value today is more than $127 billion at the close.
Rivian has only built 12 cars in Q3, making it worth $10 billion per unit. This is based on its last reporting period. This ratio will decrease in the coming quarters but it shows how Rivian's value is based on future performance and not past performance.