Overview
- The company sold 75 million Class A shares at $15.50 each, with underwriters given a 30‑day option for up to 11.25 million more, raising roughly $1.2 billion before fees.
- Investors punished the deal, sending the stock down roughly 10–18% over the trading session that followed the announcement and erasing a recent rally in the shares.
- Rivian reported a Q2 production and delivery beat with 12,613 vehicles produced and 12,194 delivered and raised full‑year 2026 delivery guidance to 65,000–70,000 units.
- The company’s cash balance was about $5.3 billion at June 30, a rise driven by outside capital such as a $1 billion Volkswagen investment and Uber commitments rather than operating cash flow, while quarterly cash burn remains high.
- Full audited Q2 financials are due July 30 and analysts say the raise eases near‑term funding needs for the R2 ramp and Georgia build but leaves execution and sustained cash burn as the key risks to watch.