Arrival Announces Pricing and Upsize of Public Follow-on Offering
November 18 2021 - 9:45PM
Arrival (NASDAQ: ARVL), announced today the pricing and upsize of
its underwritten public follow-on offering (the “Follow-on
Offering”). The size of the Follow-on Offering increased from the
previously announced 25,000,000 ordinary shares to 32,373,684
ordinary shares at a public offering price of US$9.50 per ordinary
share. The Follow-on Offering is being made pursuant to a
registration statement on Form F-1 filed with the U.S. Securities
and Exchange Commission (“SEC”). The Follow-on Offering is expected
to close on November 23, 2021, subject to the satisfaction of
customary closing conditions. In connection with the Follow-on
Offering, Arrival has granted the underwriters the option to
purchase up to 4,856,052 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 is being 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, and declared effective by,
the SEC. 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 ArrivalArrival 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 electric vehicles 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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