Financing ·
Arrive AI Inc. triggered a mandatory repayment clause under its Pre-Paid Purchase agreements with Streeterville…
ARAIArrive AI Inc.
Arrive AI Inc. triggered a mandatory repayment clause under its Pre-Paid Purchase agreements with Streeterville Capital, LLC, due to its stock price falling below $0.25 for five consecutive trading days. This event obligates the company to make aggregate monthly cash repayments of $962,500 plus accrued interest, split between $550,000 and $412,500 for Pre-Paid Purchases #2 and #3 respectively. The obligation continues until the balance is paid or the stock price recovers above $0.30 for five consecutive days. Concurrently, the Board appointed Piyush Phadke as Chief Financial Officer effective August 17, 2026, with a $300,000 annual base salary and an initial grant of 1,100,000 restricted stock units. Arrive AI Inc. operates in the artificial intelligence industry, developing software solutions.