The Gunners saw Ethan Nwaneri and Oleksandr Zinchenko depart the Emirates Stadium during the month of January, with the former joining Olympique de Marseille on loan until the end of the season and the latter heading to AFC Ajax in a permanent switch.
In terms of incomings, Arsenal had not made any new signings by the time the clock struck 7pm on Monday, February 2.
Arsenal complete 'substantial' deal for youngster on transfer deadline day
Speaking ahead of Tuesday night's Carabao Cup semi-final second leg versus Chelsea, Mikel Arteta admitted the club 'have to look' at whether it made sense to bring any new faces into the building before the deadline.
However, he did not sound the most optimistic that it could be achieved.
Nevertheless, two hours after the winter transfer deadline, Arsenal were presenting a new signing at the club's training base.
Whilst the likelihood of their newest arrival contributing in any form to Arteta's title push is decidedly slim, Arsenal did snap up one of Scottish football's more highly-rated youngsters.
Throughout deadline day, there was talk of Arsenal and Tottenham Hotspur going head-to-head over the signing of Heart of Midlothian forward James Wilson, but it was another young Scot who would arrive at the club's Hale End academy.
Teenage attacker Evan Mooney has swapped St. Mirren for Arsenal's Under-21 group this month, having appeared regularly for The Buddies this season.
Mooney, who only recently turned 18, has moved for a 'substantial fee' according to the Scottish Premiership club, with 'potential for significant future add-ons and a sizeable sell-on clause'.
He will join up with U21s head coach Max Porter's group in Premier League 2, where he will hope to replicate the kind of form which alerted Arsenal to his services in the first place.
A Scottish Under-19 international, Mooney came off the bench during St. Mirren's League Cup triumph over Celtic at Hampden Park at the end of last year.
