Rivian to raise up to $1.7B via 75-million-share offering as Q2 revenue pre-announced

Rivian Automotive said it will offer 75 million shares of Class A common stock (with an underwriter option for up to 11.25 million more), aiming to raise about $1.5-1.7 billion with proceeds for general corporate purposes including equity contributions tied to its DOE loan; the stock dropped around 11% in early trading. The company also preannounced Q2 revenue of $1.55-1.65 billion, up from $1.30 billion a year earlier, driven by higher vehicle deliveries but offset by lower average selling prices due to a higher mix of commercial vans, and cash and equivalents were about $5.3 billion as of June 30. Rivian had previously reported Q2 production of 12,613 and deliveries of 12,194 and raised its 2026 delivery guidance to 65,000-70,000 vehicles; full results are due after the market close on July 30.