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Arrival’s spectacular fall continues with a delisting from Nasdaq
Arrival will be delisted from the Nasdaq exchange January 30, following months of problems and layoffs at the company.
Nasdaq is taking the action after Arrival was late in posting financial results and failed to file a remediation plan with the exchange. The delisting notice comes just two months after Arrival announced it secured a $50 million lifeline, which it said it hoped would be enough to keep the company afloat as it explored a sale of its assets. In the meantime, Arrival is reportedly talking to accounting firm EY to lead an administration process, which is similar to bankruptcy.
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