Archer Raises $301.75 Million

<p><strong>SANTA CLARA &&num;8212&semi; <&sol;strong>Archer announced it has raised &dollar;301&period;75 million&comma; strategically positioning it to accelerate the development of its hybrid aircraft platform for the defense market and beyond&period; Leading institutional investors participated in this financing&comma; including funds and accounts managed by BlackRock&period; This raise brings Archer’s total liquidity position to ~&dollar;1 billion&period; Archer has long maintained one of the strongest balance sheets in the industry&comma; and this additional capital further strengthens its position&period;<&sol;p>&NewLine;<p>Archer launched <a href&equals;"https&colon;&sol;&sol;investors&period;archer&period;com&sol;news&sol;news-details&sol;2024&sol;Archer-Announces-Strategic-Partnership-With-Anduril-to-Develop-Hybrid-VTOL-Military-Aircraft-Raises-An-Additional-430M&sol;default&period;aspx" target&equals;"&lowbar;blank" rel&equals;"noopener noreferrer">Archer Defense<&sol;a> in December to develop next-generation aircraft for defense applications&period; The first product from <a href&equals;"https&colon;&sol;&sol;defense&period;archer&period;com&sol;" target&equals;"&lowbar;blank" rel&equals;"noopener noreferrer">this division<&sol;a> is planned to be a hybrid-propulsion&comma; vertical-take-off-and landing aircraft&period;<&sol;p>&NewLine;<p>Adam Goldstein&comma; founder and CEO of Archer said&comma; &OpenCurlyDoubleQuote;I believe the opportunity for advanced vertical lift aircraft across defense appears to be substantially larger than I originally expected&period; As a result&comma; 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&period;”<&sol;p>&NewLine;<p>With its further reinforced balance sheet&comma; Archer also continues to be well-positioned for its commercialization effort&period; Paired with the completion of <a href&equals;"https&colon;&sol;&sol;investors&period;archer&period;com&sol;news&sol;news-details&sol;2024&sol;Archer-Completes-Construction-of-High-Volume-Manufacturing-Facility&sol;default&period;aspx" target&equals;"&lowbar;blank" rel&equals;"noopener noreferrer">construction of its ARC manufacturing facility<&sol;a>&comma; <a href&equals;"https&colon;&sol;&sol;investors&period;archer&period;com&sol;news&sol;news-details&sol;2024&sol;Archer-Applauds-FAAs-Final-Rules-for-Operating-eVTOL-Aircraft&sol;default&period;aspx" target&equals;"&lowbar;blank" rel&equals;"noopener noreferrer">continued progress towards FAA certification<&sol;a> and <a href&equals;"https&colon;&sol;&sol;investors&period;archer&period;com&sol;news&sol;news-details&sol;2024&sol;Abu-Dhabi-and-Archer-Announce-Agreement-With-Cross-Industry-Stakeholders-To-Launch-First-Commercial-Electric-Air-Taxi-Flights&sol;default&period;aspx" target&equals;"&lowbar;blank" rel&equals;"noopener noreferrer">launch of its cross-industry consortium<&sol;a> in the UAE&comma; Archer is tracking well towards its goals in 2025 and beyond&period;<&sol;p>&NewLine;<p>The financing provided for the purchase and sale of 35&comma;500&comma;000 shares of Archer’s Class A common stock at a price of &dollar;8&period;50 per share based on a volume-weighted average price of the Class A common stock&comma; in a registered direct offering&period; The net proceeds from the offering announced today will be used for the development of next generation aircraft manufacturing capabilities related to this effort&comma; including batteries and composites&comma; and the remainder for general corporate purposes&period;<&sol;p>&NewLine;