What's Going On With Rivian Stock?
Portfolio Pulse from Henry Khederian
Rivian Automotive Inc (NASDAQ:RIVN) shares are trading lower after the company priced its $1.5 billion green convertible senior notes offerings. The issuance of these notes increases Rivian's debt obligations, which could raise concerns among investors about the company's ability to service its debt and its creditworthiness. The notes have an annual interest rate of 3.625% and will mature on October 15, 2030. They can be converted into cash, Rivian shares, or a combination of both.
October 06, 2023 | 2:01 pm
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Rivian's stock is trading lower due to concerns about increased debt from its $1.5 billion green convertible senior notes offerings. This could impact the company's ability to service its debt and its creditworthiness.
The issuance of convertible senior notes increases Rivian's debt obligations, which could raise concerns among investors about the company's ability to service its debt and its creditworthiness. This negative sentiment is likely to put downward pressure on the stock price in the short term.
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