Rivian launches $1.5B stock offering to fund growth

Rivian commenced an underwritten public offering of 75 million common shares on July 6, a raise worth roughly $1.5 billion at the stock's recent price, with a 30-day option for underwriters to buy up to 11.25 million additional shares that could lift the total toward $1.74 billion. The automaker said the net proceeds are for general corporate purposes, including equity contributions tied to its amended U.S. Department of Energy loan arrangement supporting its Georgia manufacturing plant. The sale, led by Goldman Sachs, follows Rivian's stronger-than-expected second-quarter deliveries and a raised full-year outlook.