Rivian Stock Drops After Announcing $1.5B Debt Offering, Despite Strong Q3 Deliveries
- Rivian to offer $1.5 billion in convertible debt, with option for $225 million more
- Intends to use proceeds for eligible green projects
- Rivian stock fell 6.9% in late trading after news
- Reported preliminary Q3 revenue of $1.29 billion-$1.33 billion
- Delivered strong Q3 vehicle deliveries earlier this week
- RIVN stock remains below 28.06 buy point
