Modern Flying News

SPAC Shareholders Approve Merger With eVTOL Maker Archer Aviation

Tuesday, September 14, 2021 at 11:02 PM ET

Verified

Archer Aviation will officially go public following a merger with Atlas Crest Investment Corp. Archer Aviation

Key Takeaways:

Archer Aviation has gone public on the New York Stock Exchange (NYSE) via a SPAC merger, becoming the third eVTOL developer to publicly list shares recently.
The company's "Maker" eVTOL aircraft is designed for urban air mobility, with flight testing expected to begin this year and production of a four-seat version in 2022.
Archer has secured a significant $1 billion conditional order from United Airlines and is backed by a diverse group of investors.
This public listing is part of a broader trend in the electric-powered aircraft industry, aiming to launch environmentally friendly air transportation for congested urban areas by the end of the decade.

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A merger Tuesday has cleared the way for a third air taxi developer, Archer Aviation, to begin trading on a major U.S. stock exchange.

Thom is a former senior editor for FLYING. Previously, his freelance reporting appeared in aviation industry magazines. Thom also spent three decades as a TV and digital journalist at CNN’s bureaus in Washington and Atlanta, eventually specializing in aviation. He has reported from air shows in Oshkosh, Farnborough and Paris. Follow Thom on Twitter @thompatterson.