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OverviewAPI
Arrival, an EV startup, secured a $50 million bridge loan to explore potential sales or strategic alternatives after struggling to raise capital. The funding aims to keep the company afloat until a buyer or alternative is found. Arrival faced challenges including missed SEC filing requirements, failed business plans, and layoffs, leading to a $155.7 million net loss. The company has reduced capital expenditures and is undergoing cost reduction through restructuring.

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