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Tim-in-CA

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Well 5PM and 6PM Eastern has come and gone ... still waiting MS? Maybe MS in this case means MicroSoft?????
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That's what the original FAQ stated. You can use an existing account to register/buy DSP, but a new DSP account is DSP only.

Edit: Thinking about this a bit more, perhaps doing this lets them avoid a lot KYC hassle/redtape since it is a very limited account for only a single purpose? I for one will be moving my shares to another brokerage, so why go through all the KYC for DSP?
wait, does this mean you CANT use the MS account to sell your shares once secured?
 

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The Rivian Automotive Inc.'s (the "Company") initial public offering is scheduled to price later today, November 09, 2021, any time after 5:00 p.m. Eastern Time.
 

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Well 5PM and 6PM Eastern has come and gone ... still waiting MS? Maybe MS in this case means MicroSoft?????

Yep, no word here. Starting to think this is going to go about like my reservation for the truck. As in over promise and under deliver. I pre-funded the MS account too. Hopefully it still comes, but thinking we get shut out.
 

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Well 5PM and 6PM Eastern has come and gone ... still waiting MS? Maybe MS in this case means MicroSoft?????
Anything on the Sofi side of things?
 

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wait, does this mean you CANT use the MS account to sell your shares once secured?
Confirmed, you can use the DSP account to sell, then transfer cash elsewhere. You just won't be able to re-invest those funds from the DSP account. You should also be able to convert the DSP account to a full up MS brokerage account but that is NOT a free account. Once you have RIVN shares, you can also have them transferred to another brokerage account and buy/sell/trade there. I think this latter option will be utilized by most.
 
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The IPO is going live tomorrow. I got this message on my brokerage account,

09 Nov. 2021
Rivian IPO: Restrictions on market orders for Wednesday, November 10

Rivian is expected to begin trading on the Nasdaq Exchange (Symbol: RIVN) on Wednesday, November 10, 2021. Please note the following:
 

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wait, does this mean you CANT use the MS account to sell your shares once secured?
The documents/FAQ clearly address ALL of this if you bother to actually read it.

How do I receive proceeds frommy shares?

If you purchase shares in the Directed Share Program you will have the option to receive
dividends in your account; however, reinvestment of those dividends is not possible in the Direct
Share Program account. You may also sell your shares. To receive a distribution of the sale
proceeds in your account after your position is fully paid for, you have the ability to transfer your
funds via online bank transfer, back to the same bank account you used to submit your original
payment.

Once I purchase shares, am I able to transfer my shares?

After your purchase has settled and your shares have been fully paid for, you may transfer your
shares via an Automated Customer Account Transfer (“ACAT”) to a brokerage account you have at
another institution. To transfer your shares, you will need to initiate this request with your other
institution. Please be advised that the name on the receiving account needs to match the name on the

account you are sending from. Morgan Stanley does not charge a fee for this service for Directed
Share Program accounts.
 

eggpaul

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The IPO is going live tomorrow. I got this message on my brokerage account,

09 Nov. 2021
Rivian IPO: Restrictions on market orders for Wednesday, November 10

Rivian is expected to begin trading on the Nasdaq Exchange (Symbol: RIVN) on Wednesday, November 10, 2021. Please note the following:
Wait what?
 

eggpaul

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The IPO is going live tomorrow. I got this message on my brokerage account,

09 Nov. 2021
Rivian IPO: Restrictions on market orders for Wednesday, November 10

Rivian is expected to begin trading on the Nasdaq Exchange (Symbol: RIVN) on Wednesday, November 10, 2021. Please note the following:
Wow, you are right. I am seeing that also on other sites.
 

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So are us DSPers going to be IPO lame-ducks, missing out?
 

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Well, it does say after, so technically, that could be tomorrow or next month. ?
Rivian R1T R1S DSP (Directed Share Program) to purchase Rivian IPO shares - now live via web portal 1636501811167
 

jjwolf120

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No, this is definitely bat$hit. For a moment there I contemplating just burning $13,000 and posting the video online, but part of me also wants to tell the grandkids that I was there when the stupidest IPO on record happened.
This is not the stupidest IPO on record. You should have seen some of the IPOs from the late 90s
 

Dirtman16

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I've never been part of an IPO before, but this all seems very odd. Am I supposed to sit by my computer until midnight waiting? Shouldn't someone in the DSP have heard something?
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