Following its second quarter of gross profit in Q1, Rivian (RIVN) received a $1B equity investment from Volkswagen (VWAGY) at an effective price of $19.42 which represents a 33% premium to the $14.56 30-trading day volume-weighted average stock price. The investment is part of the $5.8B agreement associated with the Rivian and Volkswagen Group technology joint venture.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RIVN:
- Rivian Automotive Secures $1 Billion Investment from Volkswagen
- Option traders moderately bearish in Rivian with shares down 1.97%
- Trump Trade: Tesla under pressure as Musk, Trump resume feud
- Trump says Musk ‘knew that I was strongly against EV Mandate’
- Tesla CEO Musk responds to Trump, says ‘cut it all. Now’