IRVINE, Calif. — Rivian Automotive, Inc. (NASDAQ:RIVN) witnessed an approximately 8% drop in after-hours trading on Wednesday after announcing a debt offering. Alongside this, the company also provided a preliminary print of its third-quarter revenue, which fell in line with expectations.
Debt Offering: Rivian, headquartered in Irvine, California, revealed its intention to raise $1.5 billion by issuing green convertible senior notes due in 2030 through a private offering to qualified institutional buyers. The company also plans to grant initial note purchasers the option to acquire up to an additional $225 million worth of notes.
