Rivian Automotive (NASDAQ: RIVN) has completed a public offering of 75 million shares of Class A common stock at $15.50 per share, with Goldman Sachs & Co. LLC serving as the lead underwriter.

The underwriters exercised their full overallotment option on July 8, 2026, purchasing an additional 11.25 million shares, bringing the total shares sold to 86.25 million. Rivian estimates net proceeds from the offering at approximately $1.32 billion, after deducting underwriting discounts, commissions, and other offering expenses.

The company said it intends to use the proceeds for general corporate purposes, including equity contributions tied to an agreement with the U.S. Department of Energy. Under that agreement, the DOE has agreed to arrange a multi-draw term loan facility through the Federal Financing Bank to a Rivian subsidiary.

The offering was made under a registration statement on Form S-3 filed April 30, 2026, and a prospectus supplement dated July 7, 2026.