02/10/2021
The company said it expected to receive $1.1 billion of gross proceeds, including $600 million in private investment in public equity, or PIPE, from investors such as United Airlines, Stellantis, and the venture arm of Exor, Baron Capital Group, the Federated Hermes Kaufmann Funds, Mubadala Capital, Putnam Investments and Access Industries. Ken Moelis and affiliates, along with Marc Lore, who is one of Archer’s primary and initial backers, are investing $30 million in the PIPE.
https://techcrunch.com/2021/02/10/archer-lands-1-1b-order-from-united-airlines-and-a-spac-deal/
Archer Aviation, the electric aircraft startup targeting the urban air mobility market, has landed United Airlines as a customer and an investor in its bid to become a publicly traded company via a merger with a special purpose acquisition company. Archer Aviation said Wednesday it reached an agre.....