Rivian Automotive: Volkswagen AG (VWAGY) affirms 7.7% passive stake
The shares of Common Stock that are the subject of this Schedule 13G are issuable by the Company to VIA pursuant to the terms of a Senior Convertible Promissory Note, effective as of June 26, 2024, in the aggregate principal amount of $1,000,000,000 (the "Convertible Note"). The Convertible Note will automatically convert into shares of Common Stock upon the later of (i) December 1, 2024 and (ii) satisfaction of certain regulatory approvals and expiration of applicable waiting periods under applicable laws or regulations (such date, the "Conversion Date"); therefore, such shares of Common Stock may become issuable within 60 days after October 1, 2024.