Rivian Announces $1.5 Billion Share Sale Amid Strong Recent Stock Performance
Shares of Rivian Automotive (RIVN) dropped over 13% after announcing a public sale of up to 75 million shares, potentially raising as much as $1.74 billion if the underwriters' option is exercised in full. The funds will be used for general corporate purposes and equity contributions related to an amended loan with the U.S. Department of Energy.
Topics: corporate finance equity offering Rivian stock decline