Rivian prices 75M-share follow-on offering at $18.63/share, raising $1.4B for DOE loan equity

Filed July 6, 2026 · ~2 min read

Key Changes

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  Rivian is selling 75 million Class A shares at $18.63 per share (the July 2, 2026 market price), raising approximately $1.4 billion in gross proceeds. All shares are primary (sold by the company), so Rivian receives all proceeds. Underwriters have a 30-day option for 11.25 million additional shares.

  The Offering verify on EDGAR →
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  Proceeds will fund general corporate purposes, specifically including equity contributions required under Rivian's amended loan agreement with the U.S. Department of Energy, which arranged a multi-draw term loan facility from the Federal Financing Bank to a Rivian subsidiary.

  Use of Proceeds verify on EDGAR →
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  New investors will pay $18.63 per share versus Rivian's $3.19 net tangible book value per share as of March 31, 2026, resulting in immediate dilution. Outstanding equity awards, warrants, and convertible notes (totaling ~327 million shares if fully exercised/converted) represent substantial additional potential dilution.

  Dilution verify on EDGAR →