Electric Last Mile Solutions (ELMS), a commercial electric vehicle (EV) company, has announced that it plans to file for Chapter 7 bankruptcy, less than a year after it went public through a merger with a special purpose acquisition company (SPAC). The company’s CEO Jim Taylor and executive chairman Jason Luo resigned in February 2022 following…
Rivian Raises $11.9 Billion in Upsized IPO: What You Need to Know
Rivian Automotive Inc., an electric vehicle manufacturer backed by Amazon.com Inc. and Ford Motor Co., on Tuesday priced shares in its highly-anticipated initial public offering at $78—well above its earlier expectations—to raise $11.93 billion, regulatory filings showed. What Happened Rivian initially aimed to sell shares in a $57 to $62 a share price range, which…
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