CIIG Merger Corp. (CIIC) - Arrival - Share Chat

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#1

CIIG Merger Corp. (CIIC)

Arrival said on Wednesday it had reached a deal to merge with CIIG Merger Corp. (CIIC), one of the many “special purpose acquisition companies” — or SPACs — that have proliferated in the US over the last 12 months. SPACs are shell companies, also known as “blank cheque” companies, that are capitalised and looking for deals to acquire businesses as a means to help them go public.

Arrival will be valued at $5.4bn (£4bn) once the transaction closes, the company said in a statement. The startup will raise $660m through the deal. CIIG has tapped investors Fidelity, Wellington, and BNP Paribas (BNP.PA) for an additional $400m to help fund the transaction.

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CIIC
#2

I’d love this to be on. Finally a UK EV startup!

Just look at their website https://arrival.com it’s hot!

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#3

Got into these yesterday and already gone up a lot. Really keen on these with the USPS interest and Royal Mail Trial.

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#4

Do you mean with another brokerage?

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#5

Trading 212 has it listed. Hopefully, we can get it soon :smile:

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#6

Yes I got on with T212 yesterday as the news was getting out and bought at just over $10

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#7

Yes please CIIG on Freetrade asap

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#8

Yes please, before it grows too much!!!

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#9

That is why I have most of my Investments with T212. I bought at $10.50. Already would have lost 35% so far with them slow at adding new stocks. Otherwise I would be keen to use the platform.

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#10

I think this is probably the most votes anything got in half a day.

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#11

I bought yesterday via interactive investor, but as trading was halted before the market opened I missed the sub $11 prices… did you buy Tuesday evening? Or do T212 allow pre market buying?

Either way, it closed at $16.40 so also well in profit already and should have a long long way to run given their superiority to all of the recent EV SPAC listings! Did you read the article about them potentially building a microfactory in Moscow to build / supply the entire Moscow bus fleet?!

The question for Freeetrade is why they can’t have all US SPAC’s lined up ready to plug in as soon as they announce a merger? Interactive were in that position and got it live in a couple of hours…

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#12

Yeah it is a little annoying. Hopefully it is addressed in the future.

Also hoping for a drop after the hype around the merger dies down.

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#13

I assume the team at Freetrade will be working flat out this morning to get this onboarded before the US markets open today? If they’re not working on this something is wrong @Viktor

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#14

I really don’t want to use trading 212 but freetrade is always slower then them so maybe going to switch in future if this continues happing.

#15

With the current SPAC craze, there should be someone at Freetrade who is specifically responsible for ensuring they are up to date with potential listings. Most SPAC’s that haven’t found a merger target yet should be on the radar & ready to make live as soon as they make an announcement. Otherwise it’s self inflicted damage and pisses off users. I don’t like T212 and would never have any intention of using them, but if I’d known they had this listed on Tuesday evening I would have strongly considered opening an account.

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#16

Yeah I agree with you on having a dedicated team/individual for SPACs. It is a shame they aren’t working on them faster at the moment but I am sure they’re working on other things to improve Freetrade.

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#17

On Valuation, the deal agreed corresponded to ~$5.5bn Valuation with the share price of CIIC at ~$10, with the price around $15 in pre market youd be paying close to $8bn.

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#18

Hi folks, we’re definitely as eager as you are to add as many SPACs as we can to the app.

Due to the complexity of adding these instruments, there are often many people involved in the process.

And we are now working on a number of improvements to the new stocks/IPO process which we plan to have in place before the end of the year.

$CIIC is top priority now, and one that I’m personally very excited about.

We’ll share more of an update as soon as we can.

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#19

That’s great news, thank you

#20

They have $5.1b of revenue forecast for 2023 & $14.1b of revenue forecast for 2024. EBITDA forecast to be $3.2b in 2024. They already have a $1.2b order from UPS for 20,000 vans. In my opinion $8b market cap is cheap based on those metrics. And that’s just based on vans & buses, wait until they launch taxis.