Welcome to our dedicated page for Arrival news (Ticker: ARVL), a resource for investors and traders seeking the latest updates and insights on Arrival stock.
Arrival Ltd. (Nasdaq: ARVL) is a British electric vehicle (EV) manufacturer headquartered in London, UK, specializing in the production of lightweight commercial vehicles. The company aims to transform the EV market with its unique approach to design and manufacturing. Arrival employs in-house technologies to create vehicles using rapidly-scalable, local Microfactories, enabling efficient and flexible production.
Established with a vision to create a world free from fossil fuel vehicles, Arrival's mission is to master a radically new method to design, produce, sell, and service purpose-built electric vehicles. This innovative strategy focuses on reducing environmental impact and supporting sustainable urban mobility.
Recently, Arrival announced the termination of its business combination agreement with Kensington Capital Acquisition Corp. V (NYSE: KCGI.U). This strategic shift allows the company to explore alternative opportunities for growth and additional liquidity. Arrival has engaged TD Cowen and Teneo Financial Advisory to ensure a seamless transition and to capitalize on emerging opportunities.
With TD Cowen's extensive financial advisory expertise and deep industry knowledge, Arrival is well-positioned to accelerate its progress in the EV market. The company's commitment to innovation and sustainability is evident in its continuous efforts to advance its technologies and expand its market reach.
For additional information, please visit the company’s official website or contact their media and investor relations teams at mediapr@arrival.com and ARVL@gatewayir.com.
Arrival (Nasdaq: ARVL) has announced a 1-for-50 reverse stock split effective at 12:01 a.m. (ET) on April 14, 2023. This move aims to meet the minimum $1.00 bid requirement for maintaining its listing on Nasdaq. The extraordinary general meeting of shareholders held on April 6, 2023, approved this consolidation alongside a reduction in the company's authorized share capital to U.S.$540,000, resulting in approximately 15,262,180 Ordinary Shares outstanding, down from about 763 million. The reverse split will not affect shareholder percentage ownership or market capitalization and will be reflected in accounts automatically for shareholders. The company’s warrants and convertible notes will also undergo proportionate adjustments following the split.
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