(Bloomberg) — Arrival founder Denis Sverdlov pledged a chunk of his multibillion-dollar stake in the electric-vehicle maker to secure financing from Citigroup Inc., leveraging his biggest listed asset.An investment firm for the Russian billionaire pledged about 31.5 million Arrival shares — almost 7% of his holding — last month as collateral for a credit facility with the bank, according to a regulatory filing. The stake is valued at about $630 million, based on the company’s closing price We
Citi Gives Arrival Founder a Loan Tied to $1.5 Billion in Stock
2021-06-10T13:28:30-04:00June 10th, 2021|
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