FORTUNE may receive compensation for some links to products and services on this website. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: http://www.djindexes.com/mdsidx/html/tandc/indexestandcs.html. It will merge with the U.S.-based CIIG Merger Corp, a special purpose acquisition company, set up by Peter Cuneo. Terms & Conditions. SEE ALSO: Copper is 'the new oil' and … But Arrival is turning heads for taking a different tack: constructing microfactories. Research firm Cowen has set a price target of $28.50 per share for EV startup Arrival – more than $10 higher than Monday’s trading price. Zero-emission mobility solutions for your city. Arrival stock rose in its debut Thursday after a reverse merger with a special purpose acquisition company. Arrival had entered a definitive agreement to merge with CIIG Merger Corp back in November 2020. Arrival completed the previously announced business combination with CIIG Merger Corp. on March 24 ... energy experts predict that the commercial EV market will mushroom from a … Arrival is the latest in a flurry of startups to opt for a non-traditional listing. Kindly continue reading below. ++ This article has been updated. Once the deal is completed, stocks of Arrival Ltd will begin trading on the Nasdaq exchange under the ticker of ‘ARVL’ on Thursday, March 25. Arrival is off to a similar start. Importantly, Arrival will receive about $600 million in cash proceeds from the SPAC merger. By submitting your details and clicking on the Register button below, you agree to Kalkine Media’s Terms & Conditions and agree to receive marketing offers, including to be contacted by e-mail or phone, as set out in our Privacy Policy. A vastly improved search engine helps you find the latest on companies, business leaders, and news more easily. Arrival, an electric vehicle automaker that makes buses and vans, will be going public with the NASDAQ symbol ARVL. Arrival and CIIG Merger Corp. (CIIC) Will Likely Formalize Their Business Combination on the 19th of March – the Transaction Represents One of the Best EV Plays Currently on the Market Arrival lists its shares on Nasdaq with the symbol “ARVL” It also just received 118 Millions from BlackRock . Arrival is to go public via a SPAC merger with CIIG Merger Corp (ticker CIIC). Arrival will have about $660 million in cash proceeds. Cowen cited its unique approach to manufacturing as one reason for its optimism. Arrival, a U.K. based maker of electric commercial vehicles, is becoming publicly traded via a SPAC merger. The merger is expected to be complete on March … The deal gives Arrival an enterprise value of … Let’s dive into the details of the Arrival-CIIG merger plans. The transaction between Arrival and CIIG will bring the combined company’s pro forma enterprise value to US$ 5.4 billion, said the official statement. Arrival is a better play than HYLN and W*rkH*rse, it already has a $1.2 Billions deal with UPS for 10000 EV. In the last one year, the SPAC scrips have shot up by nearly 155 per cent. Announced in November, the transaction values the combined enterprise at $5.4 billion. If all goes as planned, Arrival’s merger deal with CIIG is expected to be close on Wednesday, March 24. Arrival is a startup EV (electric vehicle) company that's focusing on the commercial EV markets and plans to produce electric buses and vans. November 18th 2020, New York & London. The company is focusing on two product lines, electric vans and electric buses. London-based Arrival is the latest electric vehicle start-up set to enter the public markets as the landscape of EV companies grows. Arrival is set to combine with CIIG Merger Corp, a SPAC set up by former Remington and Marvel CEO Peter Cuneo. For the purpose of the transaction, CIIG is said to have raised about US$ 400 million in a private investment in public equity (PIPE) financing. We use cookies to ensure that we give you the best experience on our website. The SPAC reportedly held the EV manufacturer’s pro forma implied equity value at US$ 6.06 billion. The deal is also expected to reel in gross proceeds of US$ 660 million for the EV maker. Offers may be subject to change without notice. Any calls will be made by Kalkine Solutions Private Limited on our behalf or on behalf of Kalkine Pty Ltd . Snapshot: Canadian Federal Budget 2021 & Its Key Allocations. Arrival had entered a definitive agreement to merge with CIIG Merger Corp back in November 2020. CIIG Merger stockholders voted to approve the previously announced business combination with EV maker Arrival S.à r.l. Arrival is working to stand out in the electric vehicle market. The SPAC company CIIG Merger Corp has since gained over 108% in the share price, illustrating a bullish investor sentiment. CIIG Merger Corp (NASDAQ: CIIC) will close its SPAC (special purpose acquisition company) merger with Arrival Group, a UK electric vehicle (EV) company, sometime in Q1 2021. It says its vehicles will be price-competitive with gas burners. Once the deal is completed, stocks of Arrival Ltd will begin trading on the Nasdaq exchange under the ticker of ‘ARVL’ … 3 weeks ago - CNBC Arrival Drops As Electric Vehicle Upstart Makes Nasdaq Debut All rights reserved. On the back of the latest announcement, CIIG stocks surged by over five per cent on Monday. Market data provided by Interactive Data. All Rights Reserved. Arrival, which listed on Nasdaq through a SPAC merger, hopes to produce EV delivery vans and buses. While its vans begin trial runs on public roads this summer, the company’s electric buses will start a trial run with one of the United Kingdom’s biggest transport operators this autumn. According to the agreement, existing shareholders of Arrival will hold about 88 per cent of the merged entity. Arrival plans 33 microfactories globally, including a $41.2 million facility in Charlotte, North Carolina, that will support a 10,000-vehicle UPS (NYSE:UPS) order. Bear in mind that the merger DA with CIIG Merger Corp. accorded Arrival a Pro-forma valuation of $5.4 billion. Arrival Ltd is a British automobile company headquartered in London, UK that develops electric vehicles, primarily lightweight commercial vehicles. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. It’s a bad sign if Bitcoin doesn’t return to $60K soon, JPMorgan says, People are canceling video streaming subscriptions at record rates ahead of Netflix earnings, This biotech startup thinks it can delay menopause by 15 years. British electric vehicle firm Arrival sinks in SPAC debut British electric vehicle manufacturer Arrival began trading on the Nasdaq Thursday following a merger with a U.S. blank-check company. This has been made possible via a merger with the CIIG Merger Corporation, for which a final agreement has now been signed. The merger is expected to close in the first quarter of 2021. The English electric commercial vehicle developer Arrival is planning to go public. After jumping by more than a third in the past two trading sessions, special-purpose acquisition company (SPAC) CIIG Merger Corp. (NASDAQ: … Associations Videos Search: Login. The company went public through a reverse merger … Arrival, the company creating electric vehicles (“EVs”) with its game-changing technologies, and CIIG Merger Corp. (NASDAQ: CIIC), a US publicly-traded special purpose acquisition company, today announced they have entered a … In December 2020, Arrival established its North American headquarters in Charlotte, NC, USA. The startup joins the EV delivery van field. To verify your email, we've sent a One Time Password (OTP) to. The combined company is expected to … By creating account you will get access to Hotstocks & personalised emails, We have sent an e-mail with a confirmation code to. On March 19, CIIG Merger Corp. (CIIC) shareholders approved its merger with Arrival (ARVL). R&D takes place at their facility in Banbury, Oxfordshire. © 2020 Fortune Media IP Limited. EV Start-up, Arrival, to Build Microfactory in North Carolina Why SPACs Churchill Capital IV, CIIG Merger, and Northern Genesis Closed Higher Today Why 2 EV … Investors appear excited. Arrival has major deals for its electric vans and buses in place with the likes of UPS. The $660 million deal includes a $400 million PIPE. Shreya Biswas is a multimedia journalist with a degree from the Asian College of Journalism. All Rights Reserved. Hyundai and KIA Motors are also their investors. Countries move to ban travel from India as COVID-19 unleashes havoc. The stock, however, sank by about seven per cent on Tuesday. CIIG Merger on Course for a Successful Arrival CIIC stock is a promising investment in a smart, creative EV maker By Lou Carlozo, InvestorPlace … Electric vehicle company Arrival has debuted on the NASDAQ via a merger with United States special purpose acquisition vehicle CIIG Merger Corp. EV player Arrival lists on NASDAQ via SPAC merger | ICLG. 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