Arrival Announces Closing of Offering of Green Convertible Senior Notes due 2026 and Full Exercise of Initial Purchasers’ Option to Purchase Additional Notes
November 23 2021 - 5:10PM
Arrival (NASDAQ: ARVL) announced today the closing of its offering
(the “Notes Offering”) of US$320.0 million in aggregate principal
amount of green convertible senior notes due 2026 (the “Notes”),
including the full exercise by the initial purchasers of their
option to purchase an additional US$45.0 million aggregate
principal amount of the Notes. The net proceeds to Arrival from the
Notes Offering are approximately US$310.4 million, after deducting
the initial purchasers’ discount but before offering expenses.
The Notes were offered and sold only to persons
reasonably believed to be qualified institutional buyers pursuant
to Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”). The offer and sale of the Notes and the ordinary
shares of Arrival issuable upon conversion of the Notes, if any,
have not been and will not be registered under the Securities Act
or any state securities laws, and unless so registered, the Notes
and such ordinary shares, if any, may not be offered or sold in the
United States except pursuant to an applicable exemption from such
registration requirements.
This press release shall not constitute an offer
to sell or a solicitation of an offer to purchase, nor shall there
be any offer or sale of the Notes or any ordinary shares of Arrival
issuable upon conversion of the Notes in any state or jurisdiction
in which such an offer, solicitation, or sale would be unlawful
prior to the registration or qualification thereof 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.comInvestorsir@arrival.com
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