Fallen Billionaire Down 98% Boosts Stock Sales at Risky Moment
An investment firm for Arrival founder Denis Sverdlov plans to sell up to 40 million shares of the electric-vehicle maker as it runs perilously low on cash.
A prototype electric bus at the Arrival facility in Banbury, UK, in August.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Denis Sverdlov is looking to boost stock sales at a precarious time.
An investment firm for Arrival SA’s founder doubled its sale plans this month, with a notification to offload as many as 40 million shares — about 10% of his stake — in the maker of electric buses and trucks. That happened just days after the company warned it may run out of cash.