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.”
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
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)