LOS ANGELES, December 27, 2021--(BUSINESS WIRE)--Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Arrival SA ("Arrival" or the "Company") (NASDAQ: ARVL) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your Arrival investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/arrival-sa/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.
On November 8, 2021, Arrival released its third quarter financial results, which revealed a loss of 26 million and an adjusted EBITDA loss of 40 million. The Company also revised its outlook, expecting "significantly lower vehicle volumes and revenue in 2022."
On this news, Arrival’s stock price fell $4.33, or 24%, to close at $13.46 per share on November 10, 2021, thereby injuring investors.
Then, on November 17, 2021, Arrival announced a $200 million offering of green convertible senior notes due 2026, intended to finance the development of EVs. Arrival also announced an offering of 25 million ordinary shares, expected to raise $330 million.
On this news, Arrival’s stock price declined $0.82, or 8%, to close at $9.91 on...
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