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 it boosted to $72 to $74 a share on Friday. Rivian also boosted the option for underwriters to buy 20.7 million shares, which could translate into another $1.61 billion funding. Rivian will list its Class A common stock on the Nasdaq with the ticker “RIVN” on Wednesday. Order Ramp Up And Listing Plans The startup has been ramping up capacity and burning cash even as it speeds to getting itself listed at an estimated $77 billion valuation. The company reported a net loss of $994 million for the first six months of 2021, compared with …