Rivian has opened pre-registration to purchase company stock at the IPO price via the Directed Share Program (DSP). To learn more, check out the information below that Rivian sent out vehicle order holders and FAQs they added to the site.

From the Pre-Registration notice (check your portal):
Please carefully review and complete the form to indicate your interest in participating in Rivian's Directed Share Program This information will be securely shared with our third-party Program Administrator. Incomplete or inaccurate information may result in you being unable to participate in the program

After registering:
Pre-Registration Submitted
Congratulations! You have successfully indicated you would like to participate in Rivian's Directed Share Program. In the coming weeks, you will receive an email from the third-party Program Administrator with more information about the program, including instructions for opening a brokerage account.

Brown Product Font Material property Magenta

(see all FAQs below)

Directed Share Program
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

What is a Directed Share Program?
We intend to reserve a portion of shares of Rivian’s common stock for eligible customers of Rivian who reside in the US. These shares will be available for eligible customers to purchase at the IPO price, without paying a brokerage fee, as part of the IPO.

How do I register?
If you are eligible for the Program, you should have received a pre-registration email from Rivian with details of how to pre-register and express interest to receive more information about the Program.

In order to sign up, you’ll need to complete the pre-registration form provided in Rivian’s email communication by Monday, October 25, 2021. Once the pre-registration period ends, no other submissions will be accepted.

After you’ve completed this step, you will receive an invitation email from the Program Administrator to enroll and create an account once the preliminary prospectus has been filed.

How does eligibility work?
The Program has strict eligibility requirements, so there will be limitations on who can participate. We have done our best to make the process fair based on the limitations we have.

Customers may be eligible to participate so long as:
  • they currently reside in the US
  • they had preordered an R1T or R1S by September 30, 2021 and had not otherwise cancelled the preorder as of October 25, 2021.
Please note that there are certain other regulatory requirements that may restrict the ability of an otherwise eligible customer to set up the required brokerage account and/or participate in the Program.

Here’s how the process will work:
  • All potentially eligible customers received a standard email on October 20, 2021 where they can pre-register to express interest in participating in the DSP.  Once the pre-registration period expires, no additional submissions will be accepted.  Rivian will share the personal information of customers who successfully complete the pre-registration process and consent to such sharing with the Program Administrator, a third-party broker-dealer who will be managing the Program for us.  Pre-registration closes on Monday, October 25, 2021.
  • In a few weeks, the Program Administrator will begin sending emails to pre-registered customers, inviting them to enroll and set up special brokerage accounts for purposes of the Program.  Customers will not be contacted by the Program Administrator without first receiving an email from Rivian identifying the Program Administrator and informing them that an email is headed their way.
  • Please note that there are other regulatory requirements that may restrict the ability of a customer to set up a special brokerage account with the Program Administrator and/or participate in the Program.
I’m an eligible customer. Am I obligated to participate?
No. A number of customers have expressed interest to buy shares of Rivian common stock, so we are making this available to eligible customers who are interested. Your decision to participate or not participate in this Program will not impact your preorder status or the priority of your delivery. You are under no obligation to participate in the Program nor are you guaranteed to receive an allocation of shares through the DSP, and if you set up a special brokerage account specifically for this Program, you will have the opportunity to make your investment decision up until just before the IPO.

After I express interest, when will I get the next communication?
The next communication you receive will be from the Program Administrator once our preliminary prospectus has been filed.

Why are you offering it?
While we are limited in the number of customers we can make this available to, this Program allows customers to purchase stock at the IPO price as part of the IPO just before our stock becomes publicly traded. We are providing this option based on interest we have heard from the community—it is in no way a solicitation or obligation.

What’s the price per share? Will I be charged a commission?
A document called a “preliminary prospectus” will be published, which contains a price range projected by underwriters. The final price per share will be determined once Rivian’s registration statement is declared effective by the SEC. That said, there is no assurance that the actual IPO price will be within the range—and the final IPO price per share could be above or below the range provided.

Is there a minimum purchase amount to participate?
If you choose to participate, the minimum purchase amount will be whatever a single share is valued through this Program. The amount any one customer can purchase may be further limited depending on total demand for the Program and Rivian’s IPO price.

An overview of stocks and public offerings – how does this work?
Stock and public offerings can be confusing, so here are a few helpful definitions if you’re new to this:

Stock: a stock is a type of security that signifies a proportion of ownership of an issuing corporation—commonly referred to as “shares” or “equity.” In other words, it is a percentage of ownership of a company.

Initial Public Offering: an initial public offering (commonly referred to as an IPO) is the first public issuance of stock from a company that has not been publicly traded on a public stock market like the NYSE or Nasdaq. In other words, this is the first moment where the general public is able to buy shares of a company’s stock.

Who will be administering the Program?
The Program will be administered entirely by the Program Administrator, one of our underwriters.

I received a pre-registration email inviting me to participate in the Directed Share Program, but I’m not a US resident. Am I still able to participate given I received the email?
Unfortunately, no. In some cases certain account characteristics may identify non-US resident customers as US residents. However, due to regulatory constraints, this Program is only available for US residents.

I do not want to participate but my friend or family member does. Can I give them my spot?
Participation in the Program is non-transferrable. Only those customers who meet the eligibility requirements are able to participate.

My question isn’t answered. Why can’t I receive more information about the Program?
We are currently in a “quiet period” due to SEC rules. Given these restrictions, our support team will not be able to provide additional information at this time.

Important Legal Information about the Directed Share Program
The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717.

A registration statement relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective.  These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.  This notification shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to the notice of its acceptance given after the effective date.