Bases on an IPO of 135 million shares, SoFi will be offering up to 675,000 Rivian shares to its customers. SoFi launched its IPO offerings program earlier this year and has given customers early ...

Rivian is valued at more than $90 billion, above the market values of automotive giants General Motors and Ford Motor Company. Amazon holds a 22.4% stake in Rivian, while Ford holds a 14.4% stake.

SoFi will be a selling group member," Rivian said in its SEC filing. Rivian plans to sell 135 million Class A shares in its IPO, meaning 675,000 shares will be allocated to SoFi users.

Rivian's latest S-1 filing reveals its intentions to sell 135 million shares for proceeds of $72 to $74 apiece. See if the valuation for RIVN stock makes sense.

The Details: SoFi and PrimaryBid Technologies, Inc. launched DSP2.0 to offer equity program management, IPO and follow-on offering processes for companies looking to raise capital in the U.S.

Rivian said before the IPO that it intended to sell 0.5% of shares directly to retail investors via SoFi's online brokerage platform, giving them the same access to the stock that institutional ...