Rivian is selling 75 million shares in an underwritten public offering expected to raise approximately $1.5 billion. The equity sale follows a recent rally triggered by stronger-than-expected Q2 deliveries and a raised full-year outlook, with proceeds targeting the R2 program.
Shares jumped after the company reported better-than-forecast second-quarter deliveries together with an improved full-year outlook.
The offering comes as Rivian seeks to strengthen its balance sheet amid ongoing EV market pressures.
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