Rivian's Stock Plummets 10% After Issuing 75 Million Shares
WHO:
CNBC - Rivian Automotive Inc. is the company involved in the stock offering.
WHAT:
Electrek - Rivian's stock offering is expected to raise approximately $1.5 billion based on the stock’s recent price.
Bloomberg Markets - The offering is being made under a shelf registration that became effective on April 30, 2026.
Electrek - Rivian delivered 12,194 vehicles in Q2, exceeding its guidance of 9,000 to 11,000 vehicles.
Electrek - Rivian raised its full-year delivery guidance from 62,000–67,000 to 65,000–70,000 units.
Electrek - Rivian's stock price crashed 11% in pre-market trading following the announcement of the share offering.
Electrek - The dilution from the offering is estimated to be roughly 6% for existing shareholders.
CNBC - Rivian announced a public offering of 75 million shares of its Class A common stock.
CNBC - The stock price fell more than 10% during early trading following the announcement.
CNBC - Based on a closing price of $20.14 per share, Rivian would raise approximately $1.51 billion with the offering.
Bloomberg Markets - Rivian is offering to sell 75 million shares to fund equity contributions related to a U.S. Department of Energy loan.
CNBC - Rivian intends to grant underwriters an option to purchase up to an additional 11.25 million shares within a 30-day period.
WHERE:
Bloomberg Markets - The funding is related to a loan agreement with the U.S. Department of Energy.
WHY:
CNBC - The capital raise is intended to fund equity contributions as part of a loan agreement with the U.S. Department of Energy.
HOW:
CNBC - The capital raise occurred during extended hours trading after Rivian shares rose 8.1% on the previous day and increased 19% the week prior.
(UPDATED July 7, 2026 19:38 UTC)
Rivian is set to raise approximately $1.5 billion through a stock offering made under a shelf registration that became effective on April 30, 2026, although the announcement caused the stock price to crash 11% in pre-market trading. In an impressive performance, Rivian delivered 12,194 vehicles in the second quarter, surpassing its guidance of 9,000 to 11,000 units, and has now raised its full-year delivery forecast from a range of 62,000 to 67,000 units to between 65,000 and 70,000. However, existing shareholders may face an estimated dilution of about 6% due to this new offering.
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(UPDATED July 7, 2026 17:47 UTC)
Rivian Automotive Inc. has announced a public offering of 75 million shares of its Class A common stock, aiming to raise approximately $1.51 billion based on a closing price of $20.14 per share. The funding is intended to support equity contributions related to a loan agreement with the U.S. Department of Energy, and Rivian plans to grant underwriters an option to purchase an additional 11.25 million shares within a 30-day period. Following the announcement, Rivian's stock price fell more than 10% during early trading, despite a recent rise of 8.1% the previous day and a 19% increase over the past week.