Rivian (RIVN) launches 75M-share sale to raise ~$1.5B for R2 push

Rivian has commenced an underwritten public offering of 75 million shares of common stock, a raise worth roughly $1.5 billion based on the stock’s recent price. The capital raise lands just days after Rivian’s stock rallied on stronger-than-expected Q2 delivery results and a raised full-year outlook.