Economic TimesLean R·
EV maker Rivian aims to raise $1.2 billion from previously announced offering
Shares of Rivian closed around 18% lower at $16.49 on Tuesday. The offering, announced on Monday, comes as Rivian, known for its high-end R1S SUVs and R1T pickups, ramps up the rollout of its smaller, more affordable R2 SUVs, seen as critical to the company's success. The company reported strong second-quarter deliveries and raised its annual delivery forecast last week.
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