Rivian Crashed Nearly 8% in Premarket Trading After Planning to Offer 1.5 Billion Convertible Notes

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Rivian Crashed Nearly 8% in Premarket Trading After Planning to Offer 1.5 Billion Convertible Notes

Tiger Newspress2023-10-05

Rivian Automotive, Inc. crashed nearly 8% in premarket trading after planning to offer 1.5 billion convertible notes.

It plans to offer, subject to market and other conditions, $1.5 billion worth of “green” convertible senior notes due in 2030. That would be in a private offering to “qualified institutional buyers,” Rivian said. The plan is also to give the buyers the option to purchase up to an additional $225 million.

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