technology
Rivian Plans 75 Million Share Sale That Would Dilute Shareholders by About 5 Percent
Rivian announced a public offering of 75 million shares of common stock valued at about $1.5 billion. The sale would dilute existing shareholders by about 5 percent, with an option for underwriters to buy more shares.
3 sourcesJul 6, 5:35 PM·1m read
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Rivian announced a public offering of 75 million shares of common stock valued at about $1.5 billion at the current stock price. The sale would dilute existing shareholders by about 5 percent. Underwriters hold an option to purchase an additional 11.25 million shares.
If exercised in full, the offering would total 86.25 million shares worth $1.75 billion and produce 6 percent dilution. Rivian expects to use the net proceeds for general corporate purposes, chiefly to meet equity-contribution requirements under its loan agreement with the U.S. Department of Energy.
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