On July 9, Rivian Automotive rose 5.37% in regular trading, trading at $17.69/share, with turnover of $305 million. The rebound was driven by the successful completion of its 75 million share offering and an investment bank target price upgrade.

The company confirmed net proceeds of approximately $1.32 billion from the offering, with reports indicating that 75% of the shares were allocated to 10 institutional investors, signaling robust institutional demand. The removal of offering-related uncertainty significantly improved market sentiment. On the same day, UBS raised its target price on Rivian from $16 to $17, maintaining a neutral rating. The stock had previously plunged nearly 20% cumulatively after announcing the offering at $15.50 per share, which represented a significant discount to the prior trading price. With the capital raise now finalized and strong institutional participation confirmed, concerns over equity dilution have meaningfully eased. The raised funds will be used to fulfill equity contribution obligations under the company's revised $4.5 billion loan agreement with the U.S. Department of Energy.

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