Rivian is planning to become a publicly traded company later this year. Ahead of the initial public offering (IPO), they are giving R1S and R1T reservation holders the opportunity to purchase shares through their Directed Share Program (DSP).
According to an email sent to reservation holders and shared with the Drive Tesla, the automaker says they “intend to reserve a limited number of Rivian shares for eligible customers to purchase at the time of our proposed IPO.”
The email contains a link to a pre-registration form, which puts you in line to purchase shares through the program. Successfully pre-registering does not obligate you to purchase shares, and does not guarantee you will receive any through the program.
If you are a reservation holder and are interested, you have until October 25, 2021 at 11:59PM PSD to pre-register through your Rivian account.
Unfortunately Canadian reservation holders are unable to pre-register as the DSP is limited to those in the US only. The company has also added a full list of Directed Share Program FAQs to their website.
A full copy of the email is included below:
At Rivian, our community is fundamental to everything we do, and we are deeply grateful for the interest and encouragement you have shown us since we started the company in 2009.
As you may know, Rivian has taken steps towards becoming a publicly traded company. We have heard from customers interested in purchasing shares as part of our proposed IPO, and we are writing to tell you we plan to offer a Directed Share Program. This means we intend to reserve a limited number of Rivian shares for eligible customers to purchase at the time of our proposed IPO.
The Directed Share Program (DSP) will be administered not by Rivian but by one of our underwriters (the “Program Administrator”). If you are eligible to participate in our DSP and successfully complete the pre-registration process, you will receive an email in the coming weeks from the Program Administrator with more information. Learn more about eligibility criteria and find answers to frequently asked questions here.
If you complete the pre-registration form now, you will not become obligated to purchase shares, nor are you guaranteed to receive an allocation of shares through the DSP. However, if you do not complete it by Monday, October 25, 2021, 11:59 PM PDT, you will not be able to participate and will not receive any more information related to the program. Once the pre-registration period expires, no additional submissions will be accepted.
A few important DSP details:
- The DSP is available for customers residing in the United States who preordered an R1T or R1S by September 30, 2021 and who have not otherwise cancelled the preorder.
- The number of shares available in the DSP is limited.
- By submitting the pre-registration form, you consent to us sharing your contact information and responses with the Program Administrator. If you complete the pre-registration form by Monday, October 25, 2021, 11:59 PM PDT, you will receive information about the program directly from the Program Administrator. However, receiving this message and completing the form does not guarantee that you will be able to participate.
- Due to regulatory requirements, this program is only available to eligible customers who reside in the United States.
If you are interested in participating in the DSP, please complete the pre-registration form now.
If you are not interested in participating in the DSP, no action is required.
– Team Rivian
