ARVL - Arrival launches $300M in equity financing line plans EGM for reverse stock split approval

2023-03-13 09:09:00 ET

• Arrival ( NASDAQ: ARVL ) announced a $300M equity financing line established with Westwood Capital.
• The company also plans to host a Extraordinary General Meeting of shareholders (Apr.6, 2023) to vote on a number of resolutions, including a reverse stock split (consolidation ratio within a range from 30:1 to 50:1) and capital reduction (proposed capital reduction to $156,532.22, without cancellation of shares or payments to shareholders).
• CEO Igor Torgov commented, "Looking forward, we will continue developing and validating our vehicles this year. We are also progressing with encouraging conversations with potential partners and investors to effect the next stage of the business plan - bringing Vans into production in Charlotte in late 2024."
• The company's business plan includes:

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