Rivian Plans $1.5B Share Sale for DOE Loan, Q2 Deliveries Top Estimates
RIVN•Rivian said it will sell 75 million shares to raise about $1.5 billion for equity contributions under its amended $4.5 billion DOE loan, with draws expected in early 2027. The EV maker delivered 12,194 vehicles in Q2—beating the 10,600 estimate—and guided revenue of $1.55–1.65 billion, but shares plunged over 14%.
1. Share Sale Details
Rivian announced on July 6 that it will sell 75 million new shares at its $20.14 closing price to raise about $1.5 billion for equity contributions under its amended $4.5 billion Department of Energy loan, with funding draws expected in early 2027.
2. Q2 Performance
The company delivered 12,194 vehicles and produced 12,613 units in the second quarter, surpassing analyst delivery expectations of roughly 10,600, and forecasted Q2 revenue of $1.55–1.65 billion versus the $1.44 billion consensus.
3. Market Reaction and Outlook
Shares tumbled more than 14% on the announcement—the largest intraday drop since November 2024—leaving Rivian’s market capitalization near $25.4 billion and underscoring investor concerns over dilution despite operational beats.
