EV maker Rivian aims to raise $1.2 billion from previously announced offering

Shares of ⁠Rivian closed around 18% lower ​at $16.49 on Tuesday. The offering, announced ​on Monday, comes as Rivian, known for its high-end R1S SUVs and R1T pickups, ‌ramps up the rollout of its smaller, more ​affordable ​R2 SUVs, ⁠seen as critical to the company's success. The company reported strong second-quarter ​deliveries and raised its annual delivery forecast last week.