secwatch.observer — SEC 8-K summary
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Issuer:     Rivian Automotive, Inc. / DE (RIVN)
CIK:        0001874178
Form:       8-K
Filed at:   2023-10-11T23:59:59+00:00
Accession:  0001193125-23-254132
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rivian issues $1.725B green convertible notes at 3.625%, maturing 2030, with capped calls
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- Initial conversion price of ~$23.29 per share, 27.5% premium over Oct 5 close of $18.27.
- Capped call transactions cost ~$93.8M, cap price ~$31.06 (70% premium), reducing dilution on conversion.
- Net proceeds ~$1.486B (or ~$1.709B if full greenshoe) to fund Eligible Green Projects.
- Notes are senior unsecured, redeemable after Oct 2027 if stock exceeds 130% of conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1874178/000119312523254132/0001193125-23-254132-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1874178/000119312523254132/d465548d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-254132

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer