Rivian slides after announcing 75M-share offering and Q2 revenue preview
Rivian (RIVN) stock fell after the company announced a 75 million-share offering of Class A common stock, with underwriters able to buy up to 11.25 million additional shares, potentially raising about $1.5 billion (up to roughly $1.7 billion with the overallotment). Proceeds will be used for general corporate purposes including equity contributions tied to its DOE loan for the Georgia manufacturing plant. The company also preannounced Q2 revenue of about $1.55–$1.65 billion, up from $1.30 billion a year earlier, driven by higher deliveries but offset by lower average selling prices due to a higher mix of commercial vans; cash, cash equivalents, and short-term investments were around $5.3 billion as of June 30. Rivian reported Q2 production of 12,613 vehicles and deliveries of 12,194, and lifted full-year 2026 delivery guidance to 65,000–70,000 vehicles; full Q2 results are due after the bell on July 30.
