Arrival (NASDAQ:ARVL) isn’t off to a good start today, but the company is working hard to pull back into the electric vehicle (EV) race. The British EV producer is in the throws of a highly volatile week that has kept it trending downward. However, today it announced that it has agreed to a debt-for-equity exchange with hedge fund Antara Capital. The deal includes Arrival exchanging “$20M principal amount of 3.50% convertible notes due 2026 for 3.02M ordinary shares.” The news initially sent ARVL stock down, signaling that the market isn’t responding well.
Arrival has announced a new debt for equity agreement with Antara Capital. Here’s what this development means for ARVL stock.
The post Can a New Debt Swap Save Arrival (ARVL) Stock? appeared first on InvestorPlace.