Rivian to Issue 75 Million Shares to Fulfill DOE Loan Commitment

Rivian plans to issue 75 million shares of stock to raise funds to fulfill its equity contribution obligations to the U.S. Department of Energy under a revised loan agreement. The company has filed related documents with the U.S. Securities and Exchange Commission, and Goldman Sachs will lead the offering. Based on Monday's closing price of $20.14 per share, the offering is expected to raise approximately $1.5 billion. Previously, Rivian renegotiated a $4.5 billion loan agreement with the U.S. Department of Energy, with loan disbursements expected to begin in early 2027.