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Convertible Note Offering

All articles tagged with #convertible note offering

business2 years ago•1 min saved

Rivian Automotive's Stock Plummets as Price Target is Slashed

Wedbush Securities has lowered its price target on Rivian Automotive to $25, citing low confidence in the management team's investor messaging and execution. Despite remaining bullish on Rivian's growth prospects and potential as a long-term winner in the electric vehicle market, Wedbush believes the company's recent strategic moves have raised its risk profile. Rivian is set to report earnings on November 7, and its shares fell 2.45% in premarket trading.

via Seeking Alpha|

#business #convertible-note-offering #electric-vehicles

business2 years ago•2 min saved

Rivian's Stock Plummets as EV Manufacturer Announces Convertible Note Offering

Rivian's stock sank after the electric vehicle (EV) maker announced plans to issue $1.5 billion in convertible debt and reported preliminary third-quarter revenue. The company plans to offer green convertible senior notes due in 2030 as a private offering to qualified institutional buyers. Rivian expects its revenue for the third quarter to be in the range of $1.29 billion to $1.33 billion. The bond issuance could dilute current shareholders' interests and comes after the company maintained its full-year guidance for producing 52,000 battery-electric vehicles this year. Rivian is a front-runner in the EV market but has faced supply-chain challenges and a slow ramp since its IPO in November 2021.

via Yahoo Finance|

#business #convertible-note-offering #ev-maker