Goldman Sachs & Co. LLC, Allen & Company LLC, Barclays, J.P. Morgan, Morgan Stanley, and Wells Fargo Securities acted as joint book runn...

Goldman Sachs & Co. LLC, Allen & Company LLC, Barclays, J.P. Morgan, Morgan Stanley, and Wells Fargo Securities acted as joint book runn...

17:23 EDT Rivian (RIVN) down 8% at $18.60 after announcing 75M share equity offering4th of July Sale - 70% Off Unlock powerful investing tools ...

Rivian Automotive, Inc. Announces Commencement of Underwritten Public Offering of Common Stock

Rivian Automotive (NASDAQ:RIVN) shares are tumbling in extended trading Monday after the company announced a public offering.

Rivian Automotive Inc. (RIVN) shares declined on Tuesday following the announcement of a 75 million-share public offering of Class A common stock.

Rivian filed for a public offering of 75 million shares of common stock. It plans to use the proceeds to pay off a government loan.

The capital raise occurred during extended hours trading following Rivian shares increasing 8.1% on Monday after increasing 19.2% last week.

Rivian is selling 75 million shares to raise about $1.5 billion, diluting holders ~6% but funding its DOE loan and R2 production ramp.

Rivian Automotive, Inc. Announces Pricing of Underwritten Public Offering of Common StockRivian Automotive, Inc. (Nasdaq: RIVN) (“Rivian”) today announced the pricing of its…