Arrival's Dilemma Deepens: Electric Van Maker Gets Nasdaq Delisting Notice Amid Talks For Financial Lifeline
Arrival's Dilemma Deepens: Electric Van Maker Gets Nasdaq Delisting Notice Amid Talks For Financial Lifeline
EV maker Arrival SA (NASDAQ:ARVL) said on Monday that it has been notified by Nasdaq about an upcoming suspension in the trading of its securities and subsequent delisting.
What Happened: Nasdaq, in the letter received by the company on Jan. 26, said that the company's securities would be suspended on Jan. 30.
Last week, Sky News reported that Arrival is in discussions with EY to step in as administrator should the company fail to acquire necessary rescue funds. The UK-based company, once harboring grand plans to revolutionize the global electric vehicle production industry, is seemingly focusing on contingency planning.
While it is unlikely that Arrival will raise sufficient funds, there is still a possibility, the report said, while adding that it is presently unclear as to how long Arrival's current cash reserves would last.
See Also: Best Auto Manufacturer Stocks Right Now
Why It Matters: Arrival ended the first half of 2023 with approximately $43 million of cash and cash equivalents. Loss for the half year was $155.7 million, compared to a loss of $100 million in the corresponding half of 2022.
The company presently has a market cap of $13.6 million with stock dropping nearly 97.5% over the past year. The company was valued at $5.4 billion on the day it became public in March 2021 through a SPAC merger with CIIG Merger Corp.
Price Action: On Monday, Arrival shares closed 33.7% lower at $0.49 in the regular session, according to Benzinga Pro data.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
Read Next: Tesla Model Y Best-Selling Vehicle In California For 2023, But Rivian Registrations Witness Largest Bump
Photo via Shutterstock
EV maker Arrival SA (NASDAQ:ARVL) said on Monday that it has been notified by Nasdaq about an upcoming suspension in the trading of its securities and subsequent delisting.
電動汽車製造商Arrival SA(納斯達克股票代碼:ARVL)週一表示,納斯達克已通知其即將暫停證券交易並隨後退市。
What Happened: Nasdaq, in the letter received by the company on Jan. 26, said that the company's securities would be suspended on Jan. 30.
發生了什麼:納斯達克在1月26日收到的信中表示,該公司的證券將於1月30日暫停發行。
Last week, Sky News reported that Arrival is in discussions with EY to step in as administrator should the company fail to acquire necessary rescue funds. The UK-based company, once harboring grand plans to revolutionize the global electric vehicle production industry, is seemingly focusing on contingency planning.
上週,《天空新聞》報道說,Arrival正在與安永進行討論,如果安永未能獲得必要的救援資金,將以管理員身份介入。這家總部位於英國的公司曾經懷有徹底改變全球電動汽車生產行業的宏偉計劃,但似乎正在專注於應急計劃。
While it is unlikely that Arrival will raise sufficient funds, there is still a possibility, the report said, while adding that it is presently unclear as to how long Arrival's current cash reserves would last.
報告稱,儘管Arrival不太可能籌集足夠的資金,但仍有可能,同時補充說,目前尚不清楚Arrival目前的現金儲備將持續多長時間。
See Also: Best Auto Manufacturer Stocks Right Now
另見:目前最佳汽車製造商股票
Why It Matters: Arrival ended the first half of 2023 with approximately $43 million of cash and cash equivalents. Loss for the half year was $155.7 million, compared to a loss of $100 million in the corresponding half of 2022.
爲何重要:Arrival在2023年上半年結束時擁有約4300萬美元的現金和現金等價物。該半年的虧損爲1.557億美元,而2022年相應半年的虧損爲1億美元。
The company presently has a market cap of $13.6 million with stock dropping nearly 97.5% over the past year. The company was valued at $5.4 billion on the day it became public in March 2021 through a SPAC merger with CIIG Merger Corp.
該公司目前的市值爲1,360萬美元,股票在過去一年中下跌了近97.5%。該公司在2021年3月通過SPAC與CIIG Merger Corp的合併上市當天的估值爲54億美元
Price Action: On Monday, Arrival shares closed 33.7% lower at $0.49 in the regular session, according to Benzinga Pro data.
價格走勢:根據Benzinga Pro的數據,週一,Arrival股價在例行交易中收盤下跌33.7%,至0.49美元。
Check out more of Benzinga's Future Of Mobility coverage by following this link.
點擊此鏈接,查看更多Benzinga的《未來出行》報道。
Read Next: Tesla Model Y Best-Selling Vehicle In California For 2023, But Rivian Registrations Witness Largest Bump
繼續閱讀: 特斯拉 2023 年加州最暢銷的 Model Y 汽車,但 Rivian 的註冊量增幅最大
Photo via Shutterstock
照片來自 Shutterstock
譯文內容由第三人軟體翻譯。
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