Arrival, Kensington Capital terminate business combination

Arrival (ARVL) and Kensington Capital Acquisition Corp. V (KCGI), a special purpose acquisition company, announced that both companies have agreed to terminate the business combination agreement initially signed April 6. Arrival” intends to redirect its focus towards advancing other opportunities.” The Company has engaged the services of TD Cowen and Teneo Financial Advisory “to ensure the company’s seamless transition and to pursue alternative avenues that will provide the company with additional liquidity.”