Rivian Stock Down on $75M Share Sale, Pre Announces Q2 Revenue Rivian's stock plummeted Tuesday after the electric vehicle maker announced a 75 million share sale, raising an additional $1. 5 billion in capital.
The move is part of Rivian's Department of Energy loan arrangement, which requires equity contributions tied to its manufacturing build out.
The company has been growing rapidly, with production and delivery numbers exceeding expectations. In Q2, Rivian reported 12,613 vehicles produced and 12,194 delivered, a significant increase from last year.