Arrive AI, which is developing autonomous last-mile delivery systems, filed on Thursday to register its shares with the SEC and complete a direct listing on the Nasdaq. The shares of common stock listed will be sold by existing shareholders; Arrive AI will not raise new capital in its listing. The company did not disclose a reference price, or anticipated timing of its listing.
The company is developing autonomous last mile mailboxes (ALMs), designed to support deliveries done by robots and drones. Arrive AI is also developing a suite of software and services for its ALMs, including features for scheduling, space optimization, and notifications. The company is in the development stage, and has generated no revenues to date. It is planning to roll out its "mailbox-as-a-service" features in the 1Q 2025, with the aim of moving its customers beyond pilot testing.
The Fishers, IN-based company was founded in 2020 and plans to list on the Nasdaq under the symbol ARAI. As a direct listing without a firm commitment offering, there are no underwriters on the deal; instead, Maxim will serve as a financial advisor.
