Rivian launches 75M share offering to fund equity co-investment as R2 deliveries begin, weighing on stock price.
Rivian Automotive (RIVN) announced a 75M share equity offering at $15.50 per share, raising approximately $1.16B. Proceeds will fund equity co-investment as the company ramps up deliveries of its new R2 model.
The offering follows the recent launch of Rivian’s R2, its latest electric vehicle, which began deliveries last week. Analysts had anticipated capital needs but noted the timing amid production scaling challenges. The stock price dipped on the announcement.
Investors are closely monitoring execution risks as Rivian expands its model lineup while managing cash burn.