Rivian just made it official: they’re raising $1.25 billion through a private bond sale. After reports last week hinted at a potential deal with JPMorgan to raise up to $2 billion, the company confirmed it’s moving forward with a $1.25B offering of “senior secured green notes” due in 2031. So what does that mean? In simple terms, Rivian is borrowing…

According to a new report by Bloomberg, Rivian is working with JPMorgan on a potential $2 billion bond deal. If that sounds confusing, here’s what that means. Instead of raising money by selling more stock (which can hurt share prices), Rivian is looking to borrow money by offering high-interest bonds to investors, basically that means, “We’ll pay you back later…