Image credit: Arrival
Arrival, the UK-based electric vehicle startup, has exploded onto the global automotive scene a couple of years back, after working in stealth mode for a few years until last year January when it raised $110M (approx €93M) funding from Kia and Hyundai.
Recently, the London-based startup began trading on Nasdaq Global Select Market with its Ordinary Shares and Warrants under the ticker symbols “ARVL” and “ARVLW”, respectively. The company’s stock was reportedly listed at $22, valuing it at roughly $13B (£9.5B) when the deal closed. This makes it the largest tech IPO in the UK.
Denis Sverdlov, Founder and CEO of Arrival says, “Going public is an opportunity that will allow us to continue to scale globally, bringing these products to more and more cities and people. We also understand that this comes with responsibility. Arrival has a remarkable company culture, which attracts great talent and enables us to be truly creative. The hard work of more than 1800 people over the past six years has made today’s milestone possible, and I would like to personally thank each and every one of the team.”
Notably, the company completed the previously announced business combination with CIIG…
