Arrival (ARVL) and Kensington Capital Acquisition Corp. V (KCGI), a special purpose acquisition company, announced that both companies have agreed to terminate the business combination agreement initially signed April 6. Arrival” intends to redirect its focus towards advancing other opportunities.” The Company has engaged the services of TD Cowen and Teneo Financial Advisory “to ensure the company’s seamless transition and to pursue alternative avenues that will provide the company with additional liquidity.”
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ARVL:
- Arrival and Kensington Capital Acquisition Corp. V Agreed to Terminate Business Combination Agreement
- ARRIVAL To Exchange $20M Debt for Equity with Antara
- ARRIVAL Reports First Quarter 2023 Business Update
- ARVL Upcoming Earnings Report: What to Expect?
- ARRIVAL Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1)