On December 15, 2023, Bruush Oral Care Inc. (Nasdaq: BRSH) entered into an agreement to merge with Arrive Technology Inc., a company specializing in autonomous delivery solutions, in an all-stock reverse triangular merger. The combined entity will operate as Arrive Technology Inc. and focus on advancing Arrive’s AI-powered Mailbox-as-a-Service (MaaS) platform, which facilitates the exchange of goods between people, robots, and drones. Upon closing, Arrive shareholders will own 94.5% of the newly formed company, while legacy Bruush shareholders will retain 5.5%. The transaction is expected to close in Q1 2024, subject to customary conditions, including a reverse stock split by Bruush and a US$10 million net cash minimum.

Lockett & Horwitz PLC and DuMoulin Black LLP served as legal advisors to Bruush, while Lucosky Brookman LLP acted as legal counsel to Arrive. Chardan provided exclusive financial advisory services to Arrive. The newly merged company will be headquartered in Indianapolis, Indiana, and continue to expand its smart mailbox technology to support the evolving autonomous delivery landscape.