ARVL - Arrival to exchange $20M debt for equity with Antara
2023-06-06 07:34:16 ET
- Arrival ( NASDAQ: ARVL ) to exchange today $20M principal amount of 3.50% convertible notes due 2026 for 3.02M ordinary shares with Antara Capital Master Fund LP.
- Antara will not sell in an amount greater than 10% of the traded volume of the Company’s ordinary shares on any given trading day.
- Following the exchange under the debt-equity transaction agreement, Antara will have principal amount of Arrival’s convertible notes outstanding of ~$300M.
- ARVL +3.7% premarket to $3.63
- Source: Press Release
For further details see:
Arrival to exchange $20M debt for equity with Antara