audio - sox batch convert from .raw to .wav

I'm trying to convert 728 .raw files to 16khz .wav files but I'm receiving the following error

sox FAIL formats: can't open input file
`outputdir/rawfile/b95981d1-3aa6-4d10-b755-990915951efc': No such file
or directory

script I'm using is

#!/bin/bash
mkdir -p "outputdir"
for i in rawfile/*.raw; do
    o=outputdir/${i}
    sox "$i" -r 16000 -e signed ${o%.raw} ${o%.wav}
done

the script is in convert.sh and the raw files are in rawfiles folder. The file structure is like

/Orginal/rawfiles/.rawfiles

and

/Orginal/convert.sh

I have 728 files to convert .raw files to 16 bit 16khz mono wav files. What modifications do I have to do in order to remove the error and convert the files?