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 as...
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.
25 million shares at the public offering price, which remains undisclosed. 25 million shares are sold at the last closing price. S. Department of Energy.
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.
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. 44 billion.
29 million shares during the latest reporting period. 55 million shares. 45 during premarket trading on Tuesday, according to Pro data. com