Arrival announces reverse stock split

Aiming to meet the minimum value bid requirement for maintaining listing on nasdaq company's authorized share capital will be u.s.$540,000, divided into 54,000,000 ordinary shares shareholders' percentage ownership interest will not be affected luxembourg, april 11, 2023 (globe newswire) -- arrival (nasdaq: arvl) (“arrival” or the “company”), inventor of a unique new method of design and production of electric vehicles (“evs”), today announced that, pursuant to the approvals granted at the extraordinary general meeting of shareholders held on april 6, 2023 (the “egm”), the board of directors has determined to implement a reverse stock split of all of the company's ordinary shares, having an accounting par value (the “ordinary shares”), at a ratio of 1-for-50 (the “consolidation ratio”). the company is undertaking the reverse stock split with the objective of meeting the minimum $1.00 per ordinary share bid requirement for maintaining the listing of the ordinary shares on the nasdaq global select market.
ARVL Ratings Summary
ARVL Quant Ranking