Rivian Stock Drops Nearly 15% After Announcing $1.51 Billion Share Offering

Rivian electric vehicles stock offering

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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.

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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.

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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.

CNBC World

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Rivian Stock Drops Nearly 15% After Announcing $1.51 Billion Share Offering

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Rivian Stock Plunges 18% After Announcing $1.51 Billion Share Offering

id Software Lays Off Approximately 50% of Staff Amidst Microsoft's Xbox Layoffs