Rivian Stock Rebounds Nearly 18% Above Its Share-Sale Price — But the Dilution Math Leaves a Cash-Burn Test
Rivian Automotive, Inc. shares rose 0.7% to $18.24 in Friday afternoon trading after a filing showed underwriters had taken their full allotment in its discounted stock sale. The exercise lifted the issue to 86.25 million shares and estimated net proceeds to $1.32 billion. Rivian now trades nearly 18% above the $15.50 offer price.