Announcement
Rivian Automotive Inc. disclosed an underwritten public offering of 75 million shares of common stock, granting underwriters a 30‑day option to purchase up to an additional 11.25 million shares at the offering price, less discounts and commissions. The offering is subject to market conditions and all shares will be sold.
Book‑Running Managers
Goldman Sachs, Allen & Company, Barclays Capital, J.P. Morgan Securities, Morgan Stanley and Wells Fargo Securities are acting as joint book‑running managers for the transaction.
Use of Proceeds
The company stated that net proceeds will be used for general corporate purposes, including funding certain equity contributions under its Amended and Restated Loan Arrangement with the U.S. Department of Energy.
Market Reaction
Rivian shares fell 8.4 % in after‑hours trading on Monday following the announcement.
Preliminary Q2 2026 Estimates
Rivian released preliminary estimates for the quarter ended 30 June 2026, projecting total consolidated revenues of $1.55 billion to $1.65 billion, compared with $1.30 billion in the same quarter of the prior year. The revenue uplift is attributed to higher vehicle deliveries, partially offset by lower average selling prices because of a larger proportion of commercial vans in the mix, as well as growth in vehicle electrical architecture, software development services, and regulatory credit revenues.
Liquidity Position
The company estimated cash, cash equivalents and short‑term investments at approximately $5.3 billion as of 30 June 2026, up from $4.8 billion as of 31 March 2026.
Audit Disclaimer
Rivian noted that its financial closing procedures for the quarter are not yet complete and that the preliminary figures have not been audited or reviewed by its independent auditor, KPMG LLP.