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

[Monkey]

False.

" Any shares sold under the directed share program will not be subject to the terms of any lock-up agreement, except in the case of shares purchased by our officers or directors. See “Underwriting—Directed Share Program.” "

...That's an eloquent way for them to to say no lock-up when they really mean they're by law not allowed to lock any common retail purchase. Directors/Officers and certain partnership relations will face lock-up periods to comply with SEC insider trading regulations. Most D&O stock sales/purchases have to be pre-scheduled at certain intervals, like quarterly, or with at least enough advance notice.

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[NashvilleR1S]

180 day lock up

Where did you see that? Seems like that isn't the case.

 

[wizard467]

6 hours to decide... Right after they alter their valuation and pricing, but haven't announced definitively what it is now. After they drop a bomb that T.Row Price is just magically dumping in a $1.3B investment. No prospective finalized in time for the pre-order, I'll be shocked if the IPO happens before the end of next week. But all of us pre-order people have to pay up on Friday or before to make sure our money is there on Monday so orders don't get canceled.

I'm almost thinking about ducking out of the pre-IPO altogether and will just pick it up on the open market after it goes live and likely for less $$ after a few days. No way I'm dumping in a $15K pre-order for 175 shares at this point with all the last minute shenanigans. Not that it's a huge difference, but I'll probably buy my ceremonial 100 shares in the pre-offer just because I still believe in this company and their products. But the past 5 days have been a complete circus.

The circus of the IPO pricing is how it always is, we are just privy to the process because of the DSP.

 

[eggpaul]

The DSP link is saying 6pm for pricing now. I thought it said 5 previously

Kind of like deliveries. They tell you after the deadline has passed that it's delayed.

 

[Monkey]

The circus of the IPO pricing is how it always is, we are just privy to the process because of the DSP.

I've taken part if a few pre-IPO / DSP programs... I will agree they're often rough around the edges. The Rivian one is the craziest I've taken part in. Never seen one where a company that can't account for more than a $13B valuation on paper goes to seek an $80B value, no... wait.. a $60B value. Nope, sorry, $67B. Hol' up.. Might be $80B again. We'll let you know when final share pricing goes out after business hours tonight. K?

That said, I'm kinda loving it because this is meme stock gold right here.

 

[Riviot]

I've taken part if a few pre-IPO / DSP programs... I will agree they're often rough around the edges. The Rivian one is the craziest I've taken part in. Never seen one where a company that can't account for more than a $13B valuation on paper goes to seek an $80B value, no... wait.. a $60B value. Nope, sorry, $67B. Hol' up.. Might be $80B again. We'll let you know when final share pricing goes out after business hours tonight. K?

That said, I'm kinda loving it because this is meme stock gold right here.

 

[Monkey]

I'm not going anywhere until I can drive away in my R1T... And I'm still buying the stock. Doesn't mean I can't call out crazy when I see it.

 

[MIG]

I'm not going anywhere until I can drive away in my R1T... And I'm still buying the stock. Doesn't mean I can't call out crazy when I see it.

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.

There IS a silver lining here. When they announced the IPO I actually contemplated investing $100K. Somehow the universe stepped in to save me from myself.

 

[NashvilleR1S]

 

[Rhidan]

They are holding the IPO back to announce non-vegan leather seats and Apple Car Play. Welcome to crazy town!

 

[LoneStar]

Moved $7,500 into new MS account. Sure hoping it buys me 100 shares....give or take a handful.

 

[RWerksman]

When they announced the IPO I actually contemplated investing $100K. Somehow the universe stepped in to save me from myself.

 

[McRat]

I set up the Morgan Stanley acct per the link and funded it, then added funding to cover the change in target price. Then for giggles I tried to buy a few shares of major NYSE stock, and it blocks me, saying this account isn't for buying stock. Huh? It has the mechanism there to buy stock, but it doesn't allow me to buy. I called them and they said that's normal, and I can't use the MS acct as a online trading acct.

Weird. Especially since they claimed "If you have an existing MS account, you can use it for the DSP IPO". How can both be correct?

 

[McRat]

OH, and the MS acct page allows you to pull up RIVN as a stock to trade! It just won't let you put in an order.

 

[Zoidz]

I set up the Morgan Stanley acct per the link and funded it, then added funding to cover the change in target price. Then for giggles I tried to buy a few shares of major NYSE stock, and it blocks me, saying this account isn't for buying stock. Huh? It has the mechanism there to buy stock, but it doesn't allow me to buy. I called them and they said that's normal, and I can't use the MS acct as a online trading acct.

Weird. Especially since they claimed "If you have an existing MS account, you can use it for the DSP IPO". How can both be correct?

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?

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