ARRIVAL Regains Compliance with Nasdaq Minimum Bid Price Requirement
With Arrival shares trading above $1.00 for 10 consecutive business days, the Nasdaq Listing Qualifications Staff has closed its case
LUXEMBOURG, April 28, 2023 (GLOBE NEWSWIRE) -- Arrival (Nasdaq: ARVL; the “Company”), inventor of a unique new method of design and production of electric vehicles, today announced that it has received notice from The Nasdaq Stock Market LLC ("Nasdaq") informing the Company that it has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1) (the "Rule") for continued listing on the Nasdaq Global Select Market and that the matter is now closed.
To regain compliance with the Rule, the Company’s ordinary shares were required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive business days, which was achieved on April 27, 2023. Therefore, the Nasdaq Listing Qualifications Staff has closed the deficiency case for Arrival.
For more information, please visit the Company’s investor relations website.
Arrival’s mission is to master a radically more efficient New Method to design, produce, sell and service best-ever electric vehicles, to support a world where cities are free from fossil fuel vehicles. Arrival’s in-house technologies enable a unique approach to producing vehicles using rapidly-scalable, local Microfactories. Arrival (NASDAQ: ARVL) is a joint stock company governed by Luxembourg law.
Cody Slach and Tom Colton