Corporate ActionJul 9, 2026, 06:08 AM
Rivian Sells 86.25M Class A Shares at $15.50, Raises $1.32B Net
AI Summary
Rivian Automotive, Inc. has entered into an underwriting agreement to offer and sell 75,000,000 shares of its Class A common stock at $15.50 per share. The underwriters fully exercised their option to purchase an additional 11,250,000 shares, bringing the total to 86,250,000 shares. The company expects to receive approximately $1.32 billion in net proceeds from this offering, which will be allocated to general corporate purposes, including funding equity contributions for a loan arrangement with the United States Department of Energy.
Key Highlights
- Rivian entered an underwriting agreement on July 7, 2026, to sell 75,000,000 Class A common stock shares.
- The offering price for the Class A common stock is $15.50 per share.
- Underwriters fully exercised their option to purchase an additional 11,250,000 shares on July 8, 2026.
- Total shares offered and sold amount to 86,250,000 Class A common stock shares.
- The company estimates net proceeds from the offering to be approximately $1.32 billion.
- Proceeds will be used for general corporate purposes, including equity contributions for a DOE loan arrangement.
Price Impact
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