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Archer Aviation unveils electric air taxi for launch in 2024

Archer Aviation on Thursday unveiled its first-ever electric air taxi and demonstrated how the aircraft will operate with a virtual reality flight. ....

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Electric Airplanes Are Coming, Just Not as Soon As You Think

Electric Airplanes Are Coming, Just Not as Soon As You Think
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Archer to be listed on NYSE through Atlas Crest Investment merger

Rendering of Archer s upcoming eVTOL aircraft, to be unveiled in 2021. Photo Credit: Archer
It was announced on Feb. 10 that Archer (Palo Alto, Calif., U.S.) an urban air mobility (UAM) company and developer of all-electric vertical takeoff and landing (eVTOL) aircraft, and Atlas Crest Investment Corp., a special purpose acquisition company, have entered into a definitive agreement for a business combination that would result in Archer becoming a publicly listed company by Q2 2021. It is anticipated that the post-closing company, Archer, will be listed on the NYSE with ticker symbol “ACHR.”
The transaction values the combined company at an implied $3.8 billion pro forma equity value at the $10.00 per share PIPE price. The business combination agreement is expected to provide approximately $1.1 billion of gross proceeds to the combined company, assuming minimal redemption, to fund expected future growth, including a fully committed $600 million common stock PIPE wit ....

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