Rivian Automotive has priced an underwritten public offering of 75 million shares of common stock at $15.50 per share, expected to generate gross proceeds of approximately $1.2 billion before underwriting discounts, commissions, and offering expenses. The underwriters have a 30-day option to purchase up to an additional 11.25 million shares at the public offering price. The offering is scheduled to close on July 9, 2026, subject to customary closing conditions. Rivian intends to use the net proceeds for general corporate purposes, including funding required equity contributions tied to its Amended and Restated Loan Arrangement and Reimbursement and Sponsor Support Agreement with the U.S. Department of Energy. Following the announcement, Rivian shares fell about 1.27% in after-hours trading on Tuesday.
Rivian Automotive IncPricing of 75M share offering at $15.50 dilutes existing shareholders; shares fell 1.27% after-hours.