Offering Details

Rivian Automotive Inc. (NASDAQ:RIVN) disclosed that it has priced a public offering of 75 million shares of common stock at $15.50 per share, generating gross proceeds of approximately $1.2 billion before underwriting discounts, commissions and other offering expenses. The company also granted the underwriters a 30‑day option to purchase up to an additional 11.25 million shares at the same public offering price, less applicable discounts and commissions.

Use of Proceeds

Rivian stated that the net proceeds from the offering will be used for general corporate purposes, specifically to fund certain equity contributions under an Amended and Restated Loan Arrangement and Reimbursement and Sponsor Support Agreement with the U.S. Department of Energy.

Underwriters and Book‑Running Managers

The joint book‑running managers for the transaction are Goldman Sachs & Co. LLC, Allen & Company LLC, Barclays Capital Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC. Additional bookrunners include BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc. and SMBC Nikko Securities America Inc.

Regulatory Filing and Closing

The offering is being made pursuant to a shelf registration statement on Form S‑3 that became automatically effective upon filing with the Securities and Exchange Commission on April 30, 2026. The closing of the offering is expected to occur on Thursday, subject to customary closing conditions.

Recent Analyst Commentary and Operational Highlights

In related news, analysts have adjusted their outlooks on Rivian following the equity raise and recent quarterly performance. Jefferies raised its price target to $17 and maintained a Hold rating, citing the financing as a supportive factor. JPMorgan increased its price target to $15 from $9, keeping an Underweight rating, after Rivian reported second‑quarter deliveries of 12,194 units, surpassing both Bloomberg’s consensus and JPMorgan’s own estimates. Production for the quarter reached 12,613 units, exceeding Rivian’s prior guidance. Baird reiterated an Outperform rating with a $23 price target, noting a near‑14% year‑over‑year increase in deliveries, although the figure fell slightly short of Baird’s higher estimate.

Company Valuation and Profitability

At the time of the announcement, Rivian was valued at $25.8 billion and remains unprofitable over the preceding twelve‑month period.