Arrival To Raise $307M Via Equity Offering

  • Arrival SA ARVL has upsized its public follow-on offering to 32.37 million ordinary shares (previously 25 million shares) at a public offering price of $9.50 per share.
  • The offer price represents a 4% discount on the company’s closing price as of November 18, 2021.
  • The follow-on offering is expected to close on November 23, 2021.
  • Arrival has granted the underwriters the option to purchase up to 4.8 million additional ordinary shares.
  • 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.
  • Price Action: ARVL shares closed lower by 7.64% at $9.91 on Thursday.
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