Rivian Automotive shares are trading lower after the company priced a $1.5 billion green convertible senior notes offerings.
Portfolio Pulse from Benzinga Newsdesk
Rivian Automotive has priced a $1.5 billion green convertible senior notes offering, leading to a decrease in its share price.
October 06, 2023 | 12:54 pm
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Rivian's stock price is trading lower after the company priced a $1.5 billion green convertible senior notes offering.
The pricing of the $1.5 billion green convertible senior notes offering by Rivian has led to a decrease in its share price. This is likely due to the dilution of shares that such an offering can cause, which can lead to a decrease in the value of existing shares.
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