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(Reuters) - Electric aircraft startup Archer will go public through a merger with a blank-check company backed in a deal valued at around $3.8 billion and backed by an order and investment from United Airlines, among the first major airlines to commit to the purchase of air taxis.
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The deal with Atlas Crest Investment Corp, announced on Wednesday, is expected to provide $1.1 billion to the company which makes electric aircraft with vertical take-off and landing.
Archer and Atlas Crest said the proceeds include a $600 million private investment from United Airlines Holdings Inc, Stellantis, investment banker Ken Moelis and Mubadala Capital, the investment arm of Abu Dhabi’s state investor Mubadala Investment Co.
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Kohli, playing his first Test after the paternity leave, was the first wicket to fall in the post-lunch session as he got caught at short-leg by Ollie Pope against Dominic Bess. He batted for 48 deliveries in which he scored 11 runs. Indi
Root (218, 19x4s, 2x6s), whose double ton was also the first by an overseas cricketer in India in over 10 years, was ably supported by Ben Stokes (82) as the two added 124 for the fourth wicket. At close, Dominic Bess was batting on 28 and Jack Leach was on six. The two tail-enders added an unbeaten 30 in 10.3 overs. Indi