RIVN · Rivian Automotive, Inc.

On May 4, 2026, Rivian Automotive, Inc. issued 19,553,911 shares of its Class A common stock to SMB Holding Corporation at a purchase price of $15.3422 per share, raising $300 million. This issuance followed the achievement of Milestone #1 under the Subscription Agreement dated March 18, 2026, among Rivian, SMB, and Uber Technologies, Inc. The milestone was a condition precedent for SMB's investment. The shares were issued in a private placement exempt from registration under Section 4(a)(2) of the Securities Act of 1933. The transaction strengthens Rivian's balance sheet with $300 million in new equity capital, providing additional liquidity for its operations and growth initiatives. The filing does not disclose the specific nature of Milestone #1 or the use of proceeds.