Rivian's stock dropped 18% in extended trading after the EV maker announced a public offering of 75 million shares to raise approximately $1.51 billion. The funds will support a loan agreement with the U.S. Department of Energy. The offering follows Rivian suspending its 2027 profitability target and precedes the launch of its new R2 SUV.
Rivian's stock fell over 15% after announcing a public offering of 75 million shares to raise approximately $1.51 billion. The funds will support a loan agreement with the U.S. Department of Energy. The offering follows Rivian suspending its 2027 profitability target and precedes the launch of its new R2 SUV.
Rivian's stock fell nearly 15% Tuesday after the EV maker announced a public offering of 75 million shares, aiming to raise approximately $1.51 billion. The funds will support equity contributions for a U.S. Department of Energy loan agreement. This move follows Rivian suspending its 2027 profitability target and comes as the company launches its new R2 SUV.
Rivian Automotive stock fell over 10% after announcing a public offering of 75 million shares to raise approximately $1.51 billion, intended for U.S. Department of Energy loan equity contributions. This follows a previous stock rally and comes amidst increased R&D spending and the launch of its new R2 SUV.
Rivian Automotive's stock fell over 10% in premarket trading Tuesday following the announcement of a public offering of 75 million shares. The company aims to raise approximately $1.51 billion to fund equity contributions for a loan agreement with the U.S. Department of Energy.
