EV Startup Arrival Goes public via a SPAC at $5.4 billion valuation

  • November 19, 2020 02:09 PM AEDT
  • Team Kalkine

Arrival, a startup developing electric trucks and buses, and CIIG Merger Corp (NASDAQ: CIIC), a US publicly traded SPAC, disclosed that they had entered an agreement for a business combination.

Gold MTF non-AMP

This deal will make Arrival a publicly traded company listed on the NASDAQ, will boost its valuation up to $5.4 billion.

Upon closing of the transaction, the combined company name will be Arrival Group and is anticipated to be listed on NASDAQ under the ticker “ARVL”.

Arrival is planning to have four vehicles in the market by the year 2023 and expects to be cash flow positive by this time.


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