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Arrival Reaches Agreement With Lender On Exit Fee

Benzinga ·  Sep 22, 2023 07:08

Subsidiaries of Arrival (NASDAQ:ARVL) ("Arrival" or the "Company"), inventor of a unique new method of design and production of electric vehicles ("EVs"), has agreed to pay its lender under the term loan facility disclosed to the market on August 22, 2023, pursuant to the acceleration and termination disclosed to the market on September 15, 2023, an aggregate amount of $7.4 million (inclusive of the principal amount) in connection with a mutual release of all claims between the relevant parties.

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