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Arrival (Nasdaq: ARVL) has announced a 1-for-50 reverse stock split effective at 12:01 a.m. (ET) on April 14, 2023. This move aims to meet the minimum $1.00 bid requirement for maintaining its listing on Nasdaq. The extraordinary general meeting of shareholders held on April 6, 2023, approved this consolidation alongside a reduction in the company's authorized share capital to U.S.$540,000, resulting in approximately 15,262,180 Ordinary Shares outstanding, down from about 763 million. The reverse split will not affect shareholder percentage ownership or market capitalization and will be reflected in accounts automatically for shareholders. The company’s warrants and convertible notes will also undergo proportionate adjustments following the split.