Company: ARAI
Filing Date: 2025-07-15
Form Type: S-1/A
Source: 0001641172-25-019572
Chunk: 113

Company: Arrive AI Inc.
Filing Date: 2025-07-15
Form: S-1/A
Chunk 113
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 Care Inc. (“PubCo”),
a company incorporated under the laws of British Columbia, Canada, Bruush Merger Sub Inc., a Delaware corporation and a wholly owned
subsidiary of PubCo (the “Merger Sub”), and Arrive AI Inc., formerly Arrive Technology Inc., a Delaware corporation (“Arrive”)
entered into an agreement and plan of merger (the “Merger Agreement”). Upon the closing of the merger and pursuant to the
terms and subject to the conditions of the Merger Agreement, Merger Sub would merge with and into the Arrive, with Arrive continuing
under the name of Arrive after the Merger and as a wholly owned subsidiary of PubCo. Upon closing, PubCo was expected to be renamed “Arrive
Technology Inc.” or any name chosen by Arrive, and trade on Nasdaq under the ticker symbol of “ARAI”. As a result of
the Merger and as set forth in the Merger Agreement, at closing the outstanding shares of Arrive AI’s common stock, would be exchanged
for common shares of PubCo (the “PubCo Shares”) representing, upon issuance, 94.5% of PubCo’s issued and outstanding
common shares on a fully diluted basis and the legacy shareholders of PubCo would own shares of PubCo common shares representing 5.5%
of PubCo’s issued and outstanding common shares on a fully diluted basis. Prior to Closing, PubCo would, among other things, effect
a reverse stock split with respect to PubCo’s common shares at a ratio within the range of 6-for-1 to 200-for-1. PubCo, as of the
closing, would maintain a net cash minimum as defined in the terms of the Merger Agreement consisting of cash and cash equivalents after
full payment of current liabilities, including any financing in connection with the above referenced amount and all expenses related
to the transaction (“Net Cash Minimum”). After closing, PubCo would sell, transfer and assign all existing legacy business,
assets and liabilities of PubCo (“Legacy Business”) to a purchaser, including in the form of a newly established entity (“Purchaser”),
and pursuant to that certain separation and distribution agreement to be entered into by and between PubCo and Purchaser on terms and
conditions to be mutually agreed by PubCo and Purchaser (the “Separation Agreement”). The sale, transfer and assignment of
the Legacy Business would be conducted after the Merger became effective. The Merger Agreement contained