Brief: Arrival Advances U.S. Commercialization Plans Through Business Combination With Kensington Capital Acquisition Corp. V

Kensington Capital Acquisition V

06/04/2023 21:34

April 6 (Reuters) - Arrival SA  47K.F :
    * ARRIVAL ADVANCES U.S. COMMERCIALIZATION PLANS THROUGH
BUSINESS
COMBINATION WITH KENSINGTON CAPITAL ACQUISITION CORP. V
    * ARRIVAL - UPON CLOSING, COMBINED COMPANY'S ORDINARY SHARES
ARE
EXPECTED TO BE LISTED ON NASDAQ UNDER TICKER SYMBOL "ARVL."
    * ARRIVAL - HAS ENTERED INTO A BUSINESS COMBINATION
AGREEMENT WITH
KENSINGTON CAPITAL ACQUISITION CORP. V
    * ARRIVAL - KENSINGTON HAS $283 MILLION OF CASH HELD IN
TRUST
(PRE-REDEMPTIONS) TO CONTRIBUTE TO COMBINED BUSINESS
    * ARRIVAL - UPON CLOSING OF TRANSACTION, COMBINED COMPANY
WILL
CONTINUE TO BE NAMED "ARRIVAL,"
    * ARRIVAL - BUSINESS COMBINATION VALUES COMBINED BUSINESS AT
AN
IMPLIED PRO FORMA ENTERPRISE VALUE OF $524 MILLION

Source text for Eikon:  ID:nGNX94JjnD 
Further company coverage:  47K.F 

 ((Reuters.Briefs@thomsonreuters.com;))