Stock Market

Rivian Is Raising $1.3 Billion. Investors Aren’t Impressed. The Stock Drops.


Electric truck start-up

Rivian Automotive

is getting into convertibles? Well, yes—but not the kind of convertibles car buyers think of when they hear the word.

Rivian (ticker: RIVN) is raising more cash. Investors aren’t too pleased. Monday evening, the EV maker announced plans to raise about $1.3 billion in green convertible senior notes that will mature in 2029.


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