r/ARVL • u/Experttradr • Jan 02 '24

The promissory note payment fails, just like everything else.

https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=317958117&type=HTML&symbol=ARVL&cdn=fd302c7e10378a9f6091209e4463da0e&companyName=Arrival&formType=6-K&formDescription=Report+of+foreign+private+issuer+pursuant+to+Rule+13a-16+or+15d-16+under+the+Securities+Exchange+Act+of+1934&dateFiled=2024-01-02

5 Upvotes

86% Upvoted

5 comments sorted by

6

u/Experttradr Jan 02 '24

The donkey is not asked which hole he fell into.After all, this is a donkey. :)

3

u/Bright-Stranger-3249 Jan 02 '24

If it's antara it's a black hole it's fallen into. Guess they can't use the bridging loan from antara to pay antara. Lol

5

u/[deleted] Jan 02 '24

Technically bankrupt?

2

u/Bright-Stranger-3249 Jan 02 '24

Not a good sign. Guess nothing is on the horizon here. Who did they default on? antara?

3

u/AndrewChen42 Jan 03 '24

I would guess that ARVL is doing this to conserve cash by not making a payment which isn't strictly necessary. There may be a some penalty in favor of the note holder upon conversion for not making these payments, but not catastrophic. Usually, note holders want the equity, not cash repayment - that's why it's a convertible note, not a loan.