InvestmentMay 4, 2026, 05:17 PM
Rivian Issues $300M in Class A Stock to SMB Holding Corp.
AI Summary
Rivian Automotive, Inc. announced that it issued 19,553,911 shares of its Class A common stock to SMB Holding Corporation for $300 million. This investment, at a purchase price of $15.3422 per share, was a condition precedent following Rivian's achievement of Milestone #1 as defined in a Subscription Agreement dated March 18, 2026. The shares were issued on May 4, 2026, pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act of 1933.
Key Highlights
- SMB Holding Corporation invested $300 million in Rivian.
- Rivian issued 19,553,911 shares of Class A common stock to SMB.
- The purchase price per share was $15.3422.
- The investment was triggered by Rivian achieving Milestone #1.
- The shares were issued on May 4, 2026.
- The transaction was exempt from registration under Section 4(a)(2) of the Securities Act.