Archer Aviation Closes Private Investment Round
Shares of Archer Aviation, a leading player in the aviation industry, have surged as the company concludes the private portion of its investment round. Notably, prominent investors such as ARK Investment Management and United Airlines have made significant contributions to this funding endeavor.
Archer Aviation's shares have experienced a remarkable 13% increase, reaching $6.51 in midday trading. Impressively, these shares have more than tripled since the beginning of the year and have witnessed a one-third growth over the past 12 months.
This San Jose, Calif.-based company has disclosed that the private investment in public equity (PIPE) segment of its substantial $215 million investment round, spearheaded by Stellantis, is set to be finalized on Monday.
ARK Investment Management and United Airlines have emerged as the leading investors in the PIPE category. They have been joined by both existing and new investors, including renowned entities like Boeing and Ken Moelis, through a related investment vehicle. Notably, United Airlines has invested in Archer on three separate occasions.
Archer Aviation is thrilled to announce that with the $215 million investment round and an additional $55 million commitment from Stellantis, its total liquidity will exceed $675 million. Furthermore, this brings the company's total funding for this year to an impressive $1.1 billion.
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