Archer Aviation has sold $850 million worth of shares to support new infrastructure and capabilities in the electric vertical takeoff and landing (eVTOL) industry. The funding, secured through the sale of 85 million shares at $10 apiece, will enable the company to roll out an artificial intelligence-based aviation software platform and support its official partnership with the 2028 Olympics in Los Angeles.
The move comes after President Donald Trump signed an executive order creating a pilot program to develop and deploy eVTOL vehicles in the US. Shares of Archer Aviation and competitor Joby Aviation rallied following the news, as demand for eVTOL companies continues to grow due to their potential to reduce emissions and alleviate traffic congestion.
Archer has already partnered with United Airlines to launch an airport air taxi service and is set to display its Midnight eVTOL aircraft at the Paris Air Show. The company expects to use the funding to support certification, production, and market expansion, including its first launch market in the United Arab Emirates.
Source: https://www.cnbc.com/2025/06/13/archer-aviation-drops-15percent-on-850-million-share-sale-.html