** Shares of air-taxi maker Archer Aviation ACHR.N slide as much as 10.3%; last down 7.3% at $9.46
** ACHR says it has raised $301.8 million in financing from institutional investors including BlackRock BLK.N, the world's largest asset manager
** Co expects the financing to bolster the development of its hybrid aircraft platform and fortify its balance sheet
** Capital raise brings ACHR's total liquidity to ~$1 billion
** Investors have agreed to purchase 35.5 million ACHR shares at $8.50/shr in a registered direct stock offering
** That represents a 16.7% discount to ACHR's last close
** Co has 489.2 million outstanding shares for $4.99 billion market capitalization as of last close, according to data compiled by LSEG
** ACHR stock jumped 58.8% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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