Rivian Automotive Wants To Raise Roughly $1.7 Billion via Stock Sale

Rivian Automotive Inc. (NASDAQ: RIVN ) stock fell on Tuesday after the company announced a public offering of 75 million shares of its Class A common stock.

The capital raise took place during extended trading, overshadowing positive preliminary delivery figures from the previous week and introducing concerns regarding stock dilution.

Read Also: Stock Market Today: Dow Jones Futures Gain, Nasdaq 100 Slips As SpaceX Debuts On The Exchange Details Of The Public Offering The underwritten public offering consists of up to 75 million shares of common stock, with all shares being sold by Rivian Automotive.

Additionally, the company intends to grant underwriters a 30-day option to purchase up to an additional 11.25 million shares at the public offering price, which remains undisclosed.

Based on the last closing price of $20.14, Rivian could raise as high as $1.74 billion in gross proceeds assuming all 86.25 million shares are sold at the last closing price.

Rivian stated it expects to use the net proceeds for general corporate purposes, including funding certain equity contributions under an Amended and Restated Loan Arrangement and Reimbursement and Sponsor Support Agreement with the U.S.

Department of Energy.

Rivian ended the first quarter with approximately $4.83 billion in cash, cash equivalents and short-term investments.

Q2 Production And Delivery Context The offering follows an announcement on Thursday where Rivian reported its second-quarter production and delivery data.

The American EV maker produced 12,613 vehicles and delivered 12,194 units at its manufacturing facility in Normal, Illinois, for the quarter ending June 30.

Deliveries exceeded the company’s previous outlook of 9,000 to 11,000 vehicles, supported by growth in EDV and R1 vehicles alongside the start of R2 deliveries.

Rivian ended the first quarter with $4.83 billion in cash, cash equivalents, and short-term investments.

Updated Guidance And Earnings Timeline Consequent to the second-quarter results, Rivian adjusted its full-year 2026 delivery guidance upward, moving from an initial estimate of 62,000 to 67,000 vehicles to a new projection of 65,000 to 70,000 vehicles.

The company is scheduled to report its official second-quarter 2026 financial results after the market close on July 30.

Wall Street analysts currently estimate a loss per share of 79 cents on quarterly revenue of $1.44 billion.

Short Interest Report Prior to the announcement, short interest in the electric vehicle manufacturer had risen from 144.87 million to 150.29 million shares during the latest reporting period.

This short interest accounts for 14.59% of the company’s publicly available float, representing a days-to-cover ratio of 4.48 days based on an average daily trading volume of 33.55 million shares.

RIVN Price Action: Rivian Automotive shares were down 8.39% at $18.45 during premarket trading on Tuesday, according to Pro data.

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