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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Blue Origin is reportedly raising up to $10 billion in its first private capital round at a $130 billion valuation, with Coatue Management reported to lead participation from institutional investors and Jeff Bezos. The move ends the company's near-total reliance on Bezos' personal funding as it races to scale ambitious launch, lunar, and satellite constellation projects against SpaceX.
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