CIIG Merger Corp. (CIIC) Announces Stockholder Approval of Business Combination With Arrival; to Begin Trading on Nasdaq Under Symbol “ARVL” on March 25
- S&P 500, Dow set to ease from record levels; Coca-Cola rises on results
- Bitcoin (BTC) Price Fell 20% Off the Highs Over the Weekend as Markets Got 'Too Excited' About Coinbase (COIN), Says Mike Novogratz
- UK to Intervene on National Security Grounds on NVIDIA (NVDA) and Arm Deal
- GameStop (GME) announces George Sherman will be stepping down as CEO
- Dollar slumps to 6-week low, Bitcoin steadies after weekend drop
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
CIIG Merger Corp. (“CIIG”) (NASDAQ: CIIC), a US publicly-traded special purpose acquisition company, today announced that its stockholders voted to approve the previously announced business combination with Arrival S.à r.l. (“Arrival”), the global company creating electric vehicles with its game-changing technologies. The vote took place during a Special Meeting today, and a Form 8-K disclosing the final voting results is expected to be filed with the Securities and Exchange Commission today.
The closing of the business combination is anticipated to take place on March 24, 2021. Following this, the combined company will be renamed Arrival and its ordinary shares and warrants will trade on the Nasdaq Global Select Market beginning on March 25, 2021 under the ticker symbols “ARVL” and “ARVLW” respectively.
About CIIG Merger Corp.
CIIG Merger Corp. (NASDAQ: CIIC) is a Delaware special purpose acquisition company founded by Peter Cuneo, Gavin Cuneo and Michael Minnick for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. CIIG’s units, Class A common stock and warrants trade on the NASDAQ under the ticker symbols "CIICU," "CIIC," and "CIICW" respectively.
Arrival is reinventing the automotive industry with its entirely new approach to the design and assembly of electric vehicles. Low CapEx, rapidly scalable Microfactories combined with proprietary in-house developed components, materials and software, enable the production of best in class vehicles competitively priced to fossil fuel variants and with a substantially lower total cost of ownership. This transformative approach provides cities globally with the solutions they need to create sustainable urban environments and exceptional experiences for their citizens. Arrival is a global business founded in 2015 and headquartered in London, UK and Charlotte, North Carolina, USA, with more than 1500 global employees located in offices across the United States, Germany, the Netherlands, Israel, Russia, and Luxembourg. The company is deploying its first three microfactories in North Carolina, USA, South Carolina, USA and Bicester, UK in 2021.
Cowen is serving as lead financial advisor and J.P. Morgan is serving as financial advisor to Arrival. UBS Investment Bank and Barclays are serving as financial and capital markets advisors to CIIG. Cowen served as lead placement agent and UBS Investment Bank served as placement agent on the PIPE. Greenberg Traurig, P.A. is serving as legal advisor to Arrival. Akin Gump Strauss Hauer & Feld LLP is serving as legal advisor to CIIG. Milltown Partners LLP is serving as communications advisor for Arrival. Blueshirt Capital Advisors is serving as investor relations advisor for Arrival.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CompoSecure to Become Publicly Traded Company Through Merger With Roman DBDR Tech Acquisition Corp. (DBDR)
- Highwoods Properties (HIW) Announces Acquisition of Office Assets from Preferred Apartment Communities (APTS)
- FTC Solar Inc. (FTCI) Announces Proposed 18.42M Share IPO Between $18-$20/Sh
Create E-mail Alert Related CategoriesMergers and Acquisitions, SPAC
Related EntitiesUBS, JPMorgan, Barclays, Cowen & Co, Definitive Agreement, SPAC
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!