Arrival, the global company creating electric vehicles (EVs) with its game-changing technologies, became a Nasdaq listed public company, with plans to use approximately $660 million in gross proceeds to ramp up delivery of its EVs and expand its global network of Microfactories.
Linklaters advised Arrival, the producer of next generation electric vehicles, on its business combination with CIIG Merger Corp., a US SPAC (a special purpose acquisition company which raises cash on the stock market and source a private company to take public) listed on the NASDAQ. Shares and warrants of Arrival, a newly-formed Luxembourg joint stock company, resulting from the business combination, have now been listed on the NASDAQ under the new ticker symbol “ARVL”.
Arrival has developed a new method of designing and producing zero-emission vehicles using its proprietary hardware, software and robotics technologies and low cost microfactories. It was founded in 2015 and has grown to over 1,800 global employees located in offices across the United States, United Kingdom, Germany, Netherlands, Israel and Russia. Arrival has previously received investment from strategic partners Hyundai, Kia, UPS, Winter Capital, and funds and accounts managed by BlackRock.
“Linklaters’ involvement in this transaction played an important part in making our listing on the NASDAQ a success. The team’s ability to support this complex, multi-jurisdiction transaction was invaluable” said Daniel Chin, Arrival’s General Counsel.
“We are thrilled to have had the chance to work alongside Arrival on this milestone transaction. Arrival’s Nasdaq listing marks the beginning of the next phase in the incredible growth story of one of the UK’s most exciting Tech businesses” commented James Wooton, Linklaters LLP.
The Linklaters team was led by Manfred MĂĽller (Partner), RĂ©my Bonneau (Partner), Maxime Bertomeu-Savalle (Managing Associate), Colas Surot (Associate) from the Luxembourg Corporate team and included Joakim-Antoine Charvet (Consultant) and Cyrielle Nis (Associate) from the Luxembourg Tax team, Stuart Bedford (Partner) and James Wooton (Partner) from the London Corporate team as well as Bradley Richardson (Counsel) and Ben McCarthy (Associate) from the London Employment & Incentives Practice.
