<p><strong>SANTA CLARA &#8212; </strong>Archer announced it has raised $301.75 million, strategically positioning it to accelerate the development of its hybrid aircraft platform for the defense market and beyond. Leading institutional investors participated in this financing, including funds and accounts managed by BlackRock. This raise brings Archer’s total liquidity position to ~$1 billion. Archer has long maintained one of the strongest balance sheets in the industry, and this additional capital further strengthens its position.</p>
<p>Archer launched <a href="https://investors.archer.com/news/news-details/2024/Archer-Announces-Strategic-Partnership-With-Anduril-to-Develop-Hybrid-VTOL-Military-Aircraft-Raises-An-Additional-430M/default.aspx" target="_blank" rel="noopener noreferrer">Archer Defense</a> in December to develop next-generation aircraft for defense applications. The first product from <a href="https://defense.archer.com/" target="_blank" rel="noopener noreferrer">this division</a> is planned to be a hybrid-propulsion, vertical-take-off-and landing aircraft.</p>
<p>Adam Goldstein, founder and CEO of Archer said, “I believe the opportunity for advanced vertical lift aircraft across defense appears to be substantially larger than I originally expected. As a result, we are raising additional capital to help us invest in critical capabilities like composites and batteries to help enable us to capture this opportunity and more.”</p>
<p>With its further reinforced balance sheet, Archer also continues to be well-positioned for its commercialization effort. Paired with the completion of <a href="https://investors.archer.com/news/news-details/2024/Archer-Completes-Construction-of-High-Volume-Manufacturing-Facility/default.aspx" target="_blank" rel="noopener noreferrer">construction of its ARC manufacturing facility</a>, <a href="https://investors.archer.com/news/news-details/2024/Archer-Applauds-FAAs-Final-Rules-for-Operating-eVTOL-Aircraft/default.aspx" target="_blank" rel="noopener noreferrer">continued progress towards FAA certification</a> and <a href="https://investors.archer.com/news/news-details/2024/Abu-Dhabi-and-Archer-Announce-Agreement-With-Cross-Industry-Stakeholders-To-Launch-First-Commercial-Electric-Air-Taxi-Flights/default.aspx" target="_blank" rel="noopener noreferrer">launch of its cross-industry consortium</a> in the UAE, Archer is tracking well towards its goals in 2025 and beyond.</p>
<p>The financing provided for the purchase and sale of 35,500,000 shares of Archer’s Class A common stock at a price of $8.50 per share based on a volume-weighted average price of the Class A common stock, in a registered direct offering. The net proceeds from the offering announced today will be used for the development of next generation aircraft manufacturing capabilities related to this effort, including batteries and composites, and the remainder for general corporate purposes.</p>

SAN FRANCISCO -- Ares Interactive, a game developer and publisher, has scored a $70 million Series…
DoorDash is expanding its grocery selection across the U.S. with five new partners including: Berkeley…
PALO ALTO -- Midi Health, a women’s telehealth company, has raised $100 million in a…
OAKLAND -- Pacific Gas and Electric Company (PG&E) has been working behind the scenes to…
Ahead of the season two debut of “Your Friends & Neighbors,” Apple TV announced that…
REDWOOD CITY – Gruve, a provider of AI services and infrastructure, announced the availability of…