Rivian stock down 7% in the extended session

Shares of Rivian Automotive Inc.
rivn,
+1.24%

fell more than 7% in the late session Monday, with losses accelerating after the electric-vehicle maker said it was selling about $1.3 billion in “green” convertible senior notes due in 2029. The stock has fallen 64% in the past 12 months, compared with a loss of around 6.5% for the S&P 500 index.
spx,
+0.07%