Rivian Automotive, Inc. (Nasdaq: RIVN), has announced the pricing of its offering of US$1,300,000,000 aggregate principal amount of 4.625% green convertible senior notes due 2029 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. The issuance and sale of the notes are scheduled to settle on March 10, 2023, subject to customary closing conditions. Rivian also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional US$200,000,000 principal amount of notes. Latham previously represented Rivian in its US$11.9 billion IPO in 2021, the largest IPO of 2021 and one of the largest technology IPOs in history.
Latham & Watkins LLP represents Rivian in the offering with a corporate team led by partners Marc Jaffe, Tad Freese, Greg Rodgers, and Salvatore Vanchieri, with associates Ryan Gold, Nicholas Reist, Matthew Schlanger, and Andrew Bentz.