Tiger Brokers

BUZZ-Archer Aviation falls on $302 million funding from institutional investors

Reuters
Feb 12, 2025
BUZZ-Archer Aviation falls on $302 million funding from institutional investors

** 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;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10