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Autonomous Delivery Testing Expected to Follow in Second Half of 2024
On December 14, 2023, Arrive and Brüush entered into an agreement and plan of merger (the "Merger"). The business combination, conducted in the form of a reverse triangular merger via an all-stock transaction, includes the registration of the securities issued by the continuing surviving corporation ("Surviving Corporation") upon the closing of the Merger. The Surviving Corporation will focus on the advancement and implementation of Arrive's smart Mailbox-as-a-Service platform that makes the exchange of goods between people, robots and drones frictionless through the use of artificial intelligence. The Surviving Corporation is expected to operate under the name Arrive Technology Inc., with its shares listed on the Nasdaq Capital Market under the ticker symbol ‘ARRV'. The Merger is expected to close in the second quarter of 2024, subject to customary closing conditions.
Posted In: BRSH
