Archer, A Leading Urban Air Mobility Company (“UAM”) , To List On NYSE Through Merger With Atlas Crest Investment Corp
Space commercializing electric vertical takeoff and landing (“eVTOL”) aircraft,
The business combination agreement is expected to provide approximately $1.1 billion of gross proceeds to the combined company, assuming minimal redemptions, to fund expected future growth, including a fully committed $600 million common stock PIPE with participation from leading strategic and financial investors including United Airlines, Stellantis and the venture arm of Exor, Baron Capital Group, the Federated Hermes Kaufmann Funds, Mubadala Capital, Putnam Investments and Access Industries. Additionally Ken Moelis and affiliates, along with Marc Lore, are investing $30 million in the PIPE.
Pro forma equity value of the merger is expected to be approximately $3.8 billion at the $10.00 per share PIPE price.
Archer has also signed an aircraft purchase agreement and collaboration agreement with United Airlines as part of the company’s commitment to decarbonization.
United airlines has placed an order, subject to United’s business and operating requirements, for $1 billion of Archer’s aircraft, with an option for an additional $500 million of aircraft. United, in partnership with Mesa Airlines, could give customers a quick, economic and low-emission way to get to airports within its major hubs by 2024.
investors.archer.com...nt-Corp/default.aspx
Space commercializing electric vertical takeoff and landing (“eVTOL”) aircraft,
The business combination agreement is expected to provide approximately $1.1 billion of gross proceeds to the combined company, assuming minimal redemptions, to fund expected future growth, including a fully committed $600 million common stock PIPE with participation from leading strategic and financial investors including United Airlines, Stellantis and the venture arm of Exor, Baron Capital Group, the Federated Hermes Kaufmann Funds, Mubadala Capital, Putnam Investments and Access Industries. Additionally Ken Moelis and affiliates, along with Marc Lore, are investing $30 million in the PIPE.
Pro forma equity value of the merger is expected to be approximately $3.8 billion at the $10.00 per share PIPE price.
Archer has also signed an aircraft purchase agreement and collaboration agreement with United Airlines as part of the company’s commitment to decarbonization.
United airlines has placed an order, subject to United’s business and operating requirements, for $1 billion of Archer’s aircraft, with an option for an additional $500 million of aircraft. United, in partnership with Mesa Airlines, could give customers a quick, economic and low-emission way to get to airports within its major hubs by 2024.
investors.archer.com...nt-Corp/default.aspx