DSP (Directed Share Program) to purchase Rivian IPO shares - now live via web portal

[888tom888]

I reached out to Rivian thru the chat in the app. I was told that they are in a "silent" period. I checked all of my emails and have not received any correspondence from them. Are people saying that they have been able to purchase shares?

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[Tim-in-CA]

Breaking news ... just got this from Rivian regarding DSP:

Thank you for pre-registering for the Rivian Directed Share Program (DSP). We have selected Morgan Stanley to serve as the administrator of our DSP.

Here are some important details:

• Within the next 48 hours, you will receive an email from Morgan Stanley which will provide an overview of Rivian’s DSP and important deadlines.
• The email will also include a customized link to Morgan Stanley’s secure website where you will indicate your interest in the DSP, open a special brokerage account, and learn about other registration requirements. If you have an existing Morgan Stanley account, you may use it for this program.
• The invitation will be sent from “Morgan Stanley DSP Group” and the email address will be [email protected]. Please ensure the email address is not blocked by your spam filters so that you receive your invitation in a timely manner. Please do not reply or send messages to this email address.
• As with all investment opportunities, this will be an individual decision based on your own personal circumstances and risk tolerance, as no investments are guaranteed. Therefore, we urge you to review the preliminary prospectus and base your investment decision on the information contained in the prospectus.

We appreciate your support,
- Team Rivian

 

[buddha2lotus]

Breaking news ... just got this from Rivian regarding DSP:

Thank you for pre-registering for the Rivian Directed Share Program (DSP). We have selected Morgan Stanley to serve as the administrator of our DSP.

Here are some important details:

• Within the next 48 hours, you will receive an email from Morgan Stanley which will provide an overview of Rivian’s DSP and important deadlines.
• The email will also include a customized link to Morgan Stanley’s secure website where you will indicate your interest in the DSP, open a special brokerage account, and learn about other registration requirements. If you have an existing Morgan Stanley account, you may use it for this program.
• The invitation will be sent from “Morgan Stanley DSP Group” and the email address will be [email protected]. Please ensure the email address is not blocked by your spam filters so that you receive your invitation in a timely manner. Please do not reply or send messages to this email address.
• As with all investment opportunities, this will be an individual decision based on your own personal circumstances and risk tolerance, as no investments are guaranteed. Therefore, we urge you to review the preliminary prospectus and base your investment decision on the information contained in the prospectus.

We appreciate your support,
- Team Rivian

Just got mine too, it is happening, this will keep some of us occupied until the actual vehicles start arriving onto our driveways

 

[thedole]

Looks like up to 7% of the IPO is being set aside for the DSP program (pre-order customers). That is potentially 9M shares. Sounds like there will be the opportunity to buy in large if you want to.

Edit: looks like employees are included in the DSP program as well. Still that is over $500M worth of stock for the DSP program.

 

[Redline]

Just got my email as well.

 

[Tim-in-CA]

Looks like up to 7% of the IPO is being set aside for the DSP program (pre-order customers). That is potentially 9M shares. Sounds like there will be the opportunity to buy in large if you want to.

Edit: looks like employees are included in the DSP program as well. Still that is over $500M worth of stock for the DSP program.

Yea, that's quite a bit ... I'll take $10K please!

 

[SANZC02]

Looks like up to 7% of the IPO is being set aside for the DSP program (pre-order customers). That is potentially 9M shares. Sounds like there will be the opportunity to buy in large if you want to.

Edit: looks like employees are included in the DSP program as well. Still that is over $500M worth of stock for the DSP program.

Looks like a 59.50 price based on the S1, that is a valuation of 51.2 Billion based on 861,995,652 outstanding shares

We estimate that we will receive net proceeds from this offering of approximately $7,922 million (or $9,112 million if the underwriters exercise their option to purchase additional shares of Class A common stock in full), based upon an assumed initial public offering price of $59.50 per share (which is the midpoint of the price range set forth on the cover page of this prospectus) and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.

 

[BrayBay]

Just got my e-mail too. Looks like I'll have to sign up for a Morgan Stanley account since I don't use them currently. Guess that's one more account to keep track of...

 

[DucRider]

Looks like a 59.50 price based on the S1, based on outstanding shares that is a valuation of 51.2 Billion based on 861,995,652 outstanding shares

We estimate that we will receive net proceeds from this offering of approximately $7,922 million (or $9,112 million if the underwriters exercise their option to purchase additional shares of Class A common stock in full), based upon an assumed initial public offering price of $59.50 per share (which is the midpoint of the price range set forth on the cover page of this prospectus) and after deducting estimated underwriting discounts and commissions and estimated offering expenses payable by us.

They are putting a range of $57 to $62.
The $59.50 splits the difference. (Some calculations in the prospectus use the $62 figure)

 

[SANZC02]

They are putting a range of $57 to $62.
The $59.50 splits the difference. (Some calculations in the prospectus use the $62 figure)

That is still a much better valuation for me... 53,4 Billion, way closer to where I was hoping it would start.

 

[Dbeglor]

So, the DSP will offer up to 7.0% of the offering. The DSP includes the preorders as of 9/30, as well as directors, officers and employees.

So, at the mid-range offering price of $59, it's about $567m in stock in this pool. If you assume about 45,000 people in this pool (using general number, not exact), that works out to an average of about $12,500/person. Obviously not nearly all will participate, not even a majority, so there should be ample opportunity to invest a fairly significant amount. That is, unless they cap any individual at that $12,500 to ensure that all 45,000 could participate in theory. I could also potentially see them guarantee everyone that $12,500 but accept indications of interest for more that can be allocated.

Or, I could not speculate and just wait a couple days.

 

[SANZC02]

They are putting a range of $57 to $62.
The $59.50 splits the difference. (Some calculations in the prospectus use the $62 figure)

Check my math here but looks like if they are releasing 135 million shares and reserved 7% for preorder holders, if every preorder holder took advantage of this that is around 190 shares per reservation holder.

 

[MIG]

Check my math here but looks like if they are releasing 135 million shares and reserved 7% for preorder holders, if every preorder holder took advantage of this that is around 190 shares per reservation holder.

Your math seems right assuming 100% participation.

 

[mwexler2]

Check my math here but looks like if they are releasing 135 million shares and reserved 7% for preorder holders, if every preorder holder took advantage of this that is around 190 shares per reservation holder.

Give or take several thousand directors , officers and employees who also have access.

 

[SANZC02]

Give or take several thousand directors , officers and employees who also have access.

Yes but to keep it simple, I made the assumption that more Reservation holders would not take advantage of the offer than the Rivian employees that are eligible and will participate.

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