Rivian prices 75 million-share stock offering after forecasting stronger second-quarter revenue

Rivian Automotive priced its previously announced underwritten public offering of 75 million common shares at $15.50 each, raising about $1.2 billion in gross proceeds before fees and expenses. The underwriters have a 30-day option to buy up to 11.25 million additional shares at the public offering price, less underwriting discounts and commissions, and the deal is expected to close on July 9, 2026, subject to customary conditions. Rivian said it plans to use the net proceeds for general corporate purposes, including funding certain equity contributions tied to its amended and restated loan arrangement and sponsor support agreement with the U.S. Department of Energy. The pricing follows Rivian's earlier disclosure that it expects second-quarter revenue of $1.55 billion to $1.65 billion, above the $1.45 billion analyst estimate compiled by LSEG and up from $1.30 billion a year earlier, driven primarily by higher vehicle deliveries, while cash, cash equivalents and short-term investments were estimated at $5.3 billion versus $4.8 billion at the end of the first quarter.