Arrival Announces Proposed Public Follow-on Offering
Arrival (NASDAQ: ARVL) has initiated a public offering of 25 million ordinary shares as part of a Follow-on Offering, with an option for underwriters to purchase an additional 3.75 million shares. This offering is linked to a registration statement filed with the SEC and is being underwritten by major financial institutions including Goldman Sachs and J.P. Morgan. The registration statement has not yet become effective, meaning shares cannot be sold or bought until then. The company aims to produce affordable electric vehicles through local Microfactories.
- Commencement of a Follow-on Offering of 25 million shares for capital raising.
- Underwriters include reputable firms like Goldman Sachs and J.P. Morgan.
- Potential dilution of existing shareholders due to the additional shares being offered.
- The registration statement is not yet effective, delaying the offering process.
LUXEMBOURG, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Arrival (NASDAQ: ARVL), announced today the commencement of an underwritten public offering of 25,000,000 ordinary shares (the “Follow-on Offering”) pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (“SEC”). In connection with the Follow-on Offering, Arrival intends to grant the underwriters the option to purchase up to 3,750,000 additional ordinary shares. All shares are being offered by Arrival.
Goldman Sachs International, J.P. Morgan Securities LLC, Barclays Capital Inc. and Cowen and Company, LLC are acting as underwriters of the Follow-on Offering.
The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained from: Goldman Sachs International by telephone: +44 20 7774 1000; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone: (866) 803 9204, or by email: prospectus-eq_fi@jpmorgan.com; Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone: (888) 603 5847 or by email: Barclaysprospectus@broadridge.com; or Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, by telephone: (833) 297 2926 or by email: PostSaleManualRequests@broadridge.com.
A registration statement on Form F-1 relating to the ordinary shares has been filed with the SEC but has not yet become effective. The ordinary shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these ordinary shares 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.
About Arrival
Arrival was founded in 2015 with a mission to make air clean by replacing all vehicles with affordable electric solutions - produced by local Microfactories. Six years and over 2,000 people later, we are driving the transition to EVs globally by creating products that are zero-emission, more desirable, more sustainable and more equitable than ever before. Our in-house technologies enable our radical new method of design and production using rapidly-scalable, local Microfactories around the world. This method facilitates cities and governments in achieving their sustainability goals whilst also supercharging their communities. We are a technology company, a product company, a supply chain company, an automotive company, a mobility company, a fintech company and a service company - all rolled into one with a shared goal of true sustainability. This vertically integrated business model is how we can have the radical impact our world needs today. Arrival (NASDAQ: ARVL) is a joint stock company governed by Luxembourg law.
Forward-looking statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on management’s belief or interpretation of information currently available. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including, market risks and uncertainties and the satisfaction of customary closing conditions for an offering of securities, as well as other risks and uncertainties described in the “Risk Factors” section of Arrival’s annual report on Form 20-F filed with the SEC on April 30, 2021 and other documents filed by Arrival with the SEC from time to time. Readers are cautioned not to put undue reliance on forward-looking statements, and Arrival assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Arrival does not give any assurance that Arrival will achieve its expectations.
Media Contacts For Arrival
Media
pr@arrival.com
Investors
ir@arrival.com
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