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CNBC·3 min read·medium

Rivian stock falls more than 10% as company sells 75 million shares to raise capital - CNBC

M
Michael Wayland
Rivian stock falls more than 10% as company sells 75 million shares to raise capital - CNBC
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Rivian Automotive shares dropped significantly after the company announced a public offering of 75 million shares to raise capital. The funds are intended to support equity contributions for a Department of Energy loan agreement and ongoing R&D for new vehicle technologies.

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Rivian Automotive stock plunged 18% Tuesday after the electric vehicle maker announced a public offering of 75 million shares of its Class A common stock.

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