Company: ARAI
Filing Date: 2025-05-14
Form Type: DRS
Source: 0001641172-25-010170
Chunk: 9

Company: Arrive AI Inc.
Filing Date: 2025-05-14
Form: DRS
Chunk 9
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 was less than $100 million during our most recently completed fiscal year. We may continue to be a smaller reporting company if either (i) the market value of our stock held by non-affiliates is less than $250 million measured on the last business day of our second fiscal quarter or (ii) our annual revenue is less than $100 million during the most recently completed fiscal year and the market value of our stock held by non-affiliates is less than $700 million measured on the last business day of our second fiscal quarter. If we are a smaller reporting company at the time we cease to be an emerging growth company, we may continue to rely on exemptions from certain disclosure requirements that are available to smaller reporting companies. For so long as we remain a smaller reporting company, we are permitted and intend to rely on exemptions from certain disclosure and other requirements that are applicable to other public companies that are not smaller reporting companies, such as providing only two years of audited financing statements. As of the date of this prospectus, we had a total of 434,601 warrants outstanding, all of which are held by the selling stockholders. 426,909 of these warrant units convert to 0.25 common shares (after giving effect to the Reverse Stock Split), and 7,692 of these warrant units convert to 1.00 common shares. All outstanding shares as of the date of this prospectus represent one hundred percent (100%) of the company’s currently issued and outstanding common stock, all of such outstanding shares as of the date of this prospectus may be freely sold upon the effective date of this registration statement. None of such outstanding shares as of the date of this prospectus and registered herein may be freely sold in reliance on an exemption from registration such as Rule 144 at this time. We also have 613,201 shares of common stock issuable upon the exercise of options outstanding as of the date of this prospectus (after giving effect to the Reverse Stock Split). Of these, 97,937 are held by the Registered Shareholders. All the shares of common stock subject to stock options outstanding and reserved for issuance under our equity incentive plan are expected to be registered on Form S-8 under the Securities Act and such shares are eligible for sale in the public markets, subject to the limitations applicable to affiliates under Rule 144. Reverse Stock Split Our board of directors and our stockholders each approved the Reverse Stock Split. On November 25, 2024, we filed a certificate of amendment of certificate of incorporation