Rivian to Offer 75 Million Shares, Seeking $1.5 Billion to Fund R2 Production

Rivian announced a significant public offering of 75 million common shares, aiming to raise approximately $1.5 billion. This capital injection is earmarked to support the development and ramp-up of its more affordable R2 electric vehicle platform, crucial for the company's future growth and competitive positioning. The move follows a strong Q2 performance and an optimistic revised outlook for the year.