The Santa Clara, California-based company said Thursday it sold 85 million shares of its Class A common stock at $10 each in support of President Donald Trump’s new executive order to fast-track eVTOL aircraft integration across the nation.
Boosting Archer’s eVTOL Industry Standing
The additional investment, which raises Archer’s total liquidity to $2 billion, is intended to bolster the company’s position as a leader in the eVTOL sector. It aims to leverage the new funding and presidential directive to accelerate its development and deployment of eVTOL aircraft by advancing its domestic and international engineering, certification and commercialization efforts.
The funding also aligns with Archer’s role as the Official Air Taxi Provider at the Los Angeles 2028 Olympic Games. The company plans to foster cross-industry partnerships by working closely with the White House, Department of Transportation and the Federal Aviation Administration on the program.
Archer intends to utilize the net proceeds for various needs, such as enhancing its infrastructure, artificial intelligence-powered aviation software platform and other commercial capabilities.
“This Executive Order is a seminal moment for Archer and the eVTOL industry. We now have the strongest balance sheet in the sector and the resources we need to execute both here in the U.S. and abroad,” said Adam Goldstein, CEO and founder of Archer.
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