Rivian sells 'green bonds'
Rivian the sale of $1.3B in 'green bonds' and the company's stock gets walloped. This bond sale amounts to about 10% of the company's $13.26 billion market cap as of today per Yahoo Finance. Stock currently at $14.95/share.
“Rivian intends to use the net proceeds from the offering to finance, refinance, make direct investments in, in whole or in part, one or more new or recently completed… current and/or future eligible green projects,” the company said in a statement.
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I sure hope that Rivian survives. We ordered a second R1S this weekend. With the new longer-range dual motor models it is the ideal vehicle for us. Sigh.