Rivian Shares Continue to Sink After Pricing $1.2 Billion Offering

Dow Jones

Jul 08

Shares of Rivian Automotive continued to fall after the electric automaker priced a $1.2 billion public offering of stock.

The stock fell 4.4%, to $15.76, in premarket trading Wednesday. Shares tumbled 18% during Tuesday's regular session, after the company initially disclosed the offering Monday evening.

Rivian said late Tuesday that it would sell 75 million shares of its common stock for $15.50 apiece. It will also grant underwriters a 30-day option to purchase up to an additional 11.25 million shares at the public offering price, minus discounts and commissions.

The company said it plans to use the proceeds from the sale for general corporate purposes, including equity requirements for a U.S. Department of Energy loan meant to support construction of its upcoming electric vehicle manufacturing facility in Georgia.

Six firms, led by Goldman Sachs and Allen & Co., are acting as joint book-running managers for the offering, which is expected to close Thursday.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

July 08, 2026 06:57 ET (10:57 GMT)

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