SynopsisShares of Rivian closed around 18% lower at $16.49 on Tuesday. The offering, announced on Monday, comes as Rivian, known for its high-end R1S SUVs and R1T pickups, ramps up the rollout of its smaller, more affordable R2 SUVs, seen as critical to the company's success. The company reported strong second-quarter deliveries and raised its annual delivery forecast last week.Electric-vehicle maker Rivian on Tuesday priced its previously announced offering of 75 million shares at $15.50 per share, aiming to raise around $1.2 billion.Rivian said it plans to use the proceeds to fund equity contributions as part of a loan agreement with the U.S. Department of Energy.Shares of Rivian closed around 18% lower at $16.49 on Tuesday. The offering, announced on Monday, comes as Rivian, known for its high-end R1S SUVs and R1T pickups, ramps up the rollout of its smaller, more affordable R2 SUVs, seen as critical to the company's success. The company reported strong second-quarter deliveries and raised its annual delivery forecast last week. ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now
Rivian: EV maker Rivian aims to raise $1.2 billion from previously announced offering - The Economic Times
Shares of Rivian closed around 18% lower at $16.49 on Tuesday. The offering, announced on Monday, comes as Rivian, known for its high-end R1S SUVs and R1T pickups, ramps up the rollout of its smaller, more affordable R2 SUVs, seen as critical to the company's success. The company reported strong second-quarter deliveries and raised its annual delivery forecast last week.
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