Rivian Automotive Inc. filed plans Monday to sell 75 million shares through underwriter Goldman Sachs Group Inc., aiming to fund equity contributions tied to a U.S. Department of Energy loan. The offering, priced at $20.14 per share, would generate approximately $1.5 billion in proceeds.

The share sale directly responds to DOE loan requirements, which typically mandate borrower equity stakes before finalizing financing. Rivian's move signals progress on accessing federal funds that could support manufacturing expansion or technology development.

At current valuations, the offering represents roughly 7% dilution to existing shareholders. The $1.5 billion capital raise provides Rivian with additional liquidity amid intense competition in the electric vehicle market and ongoing challenges achieving mass production targets.

This offering marks Rivian's latest effort to strengthen its balance sheet while pursuing federal support. Investors will watch whether the DOE loan closes and how Rivian deploys fresh capital against Tesla, Ford, and GM's accelerating EV programs.