** Shares of air-taxi maker Archer Aviation ACHR.N down 5% at $7

** ACHR raises $430 mln in fresh capital, part of which will be used to develop a hybrid aircraft with defense tech company Anduril Industries

** Fundraising was through an equity offering

** Aircraft will target a potential "program of record" — a government approved and authorized acquisition program — from the Pentagon, say companies

** Up to last close, Archer stock up 20.36% YTD

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))