ARRIVAL Reports Q1 2023 Business Update; Ending Cash Position Of $130M; Business Combination Agreement With Kensington Capital Acquisition Corp. V To Provide Additional Manufacturing Expertise And Up To $283 Million From Cash In Trust
ARRIVAL Reports Q1 2023 Business Update; Ending Cash Position Of $130M; Business Combination Agreement With Kensington Capital Acquisition Corp. V To Provide Additional Manufacturing Expertise And Up To $283 Million From Cash In Trust
Business Combination Agreement with Kensington Capital Acquisition Corp. V to Provide Additional Manufacturing Expertise and Up to $283 Million From Cash in Trust
與肯辛頓資本收購公司達成業務合併協議，提供額外的製造專業知識和高達2.83億美元的信託現金
First Quarter Ending Cash Position of $130 Million
第一季度末現金狀況爲1.3億美元
LUXEMBOURG, May 15, 2023 (GLOBE NEWSWIRE) -- Arrival (NASDAQ:ARVL) ("Arrival" or the "Company"), inventor of a unique new method of design and production of electric vehicles, today provided business updates for the first quarter ended March 31, 2023.
盧森堡，2023 年 5 月 15 日（GLOBE NEWSWIRE）— 抵達 （納斯達克：ARVL） （“Arrival” 或 “公司”）是電動汽車設計和生產的獨特新方法的發明者，今天提供了截至2023年3月31日的第一季度業務更新。
"In the first quarter, our team worked diligently to optimize costs and support our business plan as we develop our purpose-built XL Van for production in 2024," said Arrival CEO Igor Torgov. "We ended the quarter with $130 million cash and have significantly reduced our operating costs on a go-forward basis to extend our runway for 2023. In April we announced a proposed business combination with Kensington Capital, which could bring up to $283 million of trust assets to the Company (subject to redemptions). The merger with Kensington and their extensive manufacturing and automotive industry expertise validates Arrival's strategy to bring a purpose-built Class 4 last-mile delivery vehicle to the U.S. market. Our top priority going forward is to facilitate a successful deal close later this year."
Arrival首席執行官伊戈爾·托爾戈夫表示：“在第一季度，我們的團隊努力優化成本並支持我們的業務計劃，因爲我們正在開發用於2024年生產的專用XL Van。”“我們在本季度末獲得了1.3億美元的現金，並在展望的基礎上大幅降低了運營成本，將我們的跑道延長至2023年。4月，我們宣佈了與肯辛頓資本的擬議業務合併，這可能爲公司帶來高達2.83億美元的信託資產（有待贖回）。與肯辛頓的合併及其豐富的製造和汽車行業專業知識證實了Arrival將特製4級最後一英里送貨車推向美國市場的戰略。我們未來的首要任務是促進今年晚些時候成功完成交易。”
First Quarter 2023 Cash and Recent Business Updates
2023 年第一季度現金和近期業務更新
- Cash and cash equivalents of approximately $130 million as of March 31, 2023
- In Q1, the change in cash of $75 million included a $25 million receipt from Antara and use of cash of approximately $60 million for restructuring-related costs and legacy supplier payments.
- Advanced U.S. commercialization plans through a business combination with Kensington Capital Acquisition Corp. V. This transaction will allow Arrival to access up to $283 million of cash (subject to redemptions) held in trust for the build-out of the Company's expected Charlotte, North Carolina factory for continued development of Arrival's XL Van.
- Built 3 L Vans at the Bicester factory with 5 more in progress and accumulated over 90,000 kilometers of on-road test driving. Build and road testing of the L Vans has proven to be a valuable source of insights as the Company finalizes manufacturing methods and designs for the XL Van.
- Continued development of the XL Van design process, with design release targeted for later this year.
- 截至2023年3月31日，現金及現金等價物約爲1.3億美元
- 在第一季度，7,500萬美元的現金變動包括來自Antara的2500萬美元收入，以及將約6000萬美元的現金用於重組相關成本和傳統供應商付款。
- 通過與Kensington Capital Acquisition Corp. 的業務合併，美國製定了先進的商業化計劃。該交易將允許Arrival獲得高達2.83億美元的信託現金（有待贖回），用於擴建該公司預計在北卡羅來納州夏洛特的工廠，用於繼續開發Arrival的XL Van。
- 在比斯特工廠建造了 3 輛 L 型貨車，另有 5 輛正在進行中，累計上路試駕超過 90,000 公里。事實證明，隨着公司最終確定XL Van的製造方法和設計，L Vans的建造和路試是寶貴的見解來源。
- 繼續開發XL Van的設計流程，設計計劃於今年晚些時候發佈。
譯文內容由第三人軟體翻譯。