GlobeNewswire Inc | Dec 27, 2021 08:14PM EST

December 28, 2021

NEW YORK, Dec. 27, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Arrival SA (Arrival or the Company) (NASDAQ:ARVL). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Arrival and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On November 8, 2021, Arrival announced the Companys financial results for the third quarter of 2021, including a loss of 26 million (compared to a loss of 22 million during the same quarter a year earlier), and adjusted EBITDA loss for the quarter of 40 million (compared to a loss of 18 million in the third quarter of 2020). The Company also pulled its 2022 revenue goals and significantly scaled back its long-term projections, pushing its production and sales timeline into later time periods.

On this news, Arrivals share price fell $4.33 per share, or 24%, to close at $13.46 per share on November 10, 2021.

Only a week later, on November 17, 2021, Arrival announced a $200 million offering of green convertible senior notes due 2026, intended to finance the development of electric vehicles. On the same day, Arrival also announced the commencement of an underwritten public offering of 25 million ordinary shares pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission in a bid to raise around $330 million in cash.

On this news, Arrivals share price fell $0.82 per share, or approximately 8%, to close at $9.91 per share on November 18, 2021.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com888-476-6529 ext. 7980