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Today, the founders and other early employees of Archer rang the opening bell of the New York Stock Exchange, ushering in a new era for the company


The closing of the business combination generated $857.6 million of gross proceeds, which will help fund Archer's vision of bringing an electric vertical takeoff and landing vehicle (eVTOL) to market and launching an urban air mobility (UAM) network

PALO ALTO, Calif., September 20, 2021, Archer (NYSE: ACHR), a leading developer of eVTOL aircraft, today celebrated the completion of its business combination with Atlas Crest Investment Corp. and listing on the NYSE with the ceremonial ringing of the NYSE opening bell. 

Archer’s story has been one of pragmatic planning, incredible teamwork and a relentless dedication to always moving forward. Because of this, Archer’s momentum continues to build, further bolstered by recent milestones like agreeing to its G-1 Certification Basis with the FAA, its Maker Aircraft unveiling, and its partnership with REEF. With a world-class Board of Directors and experienced team, Archer is well positioned to continue to drive the development and adoption of a more efficient and sustainable form of transportation.

"We believe Archer's eVTOL aircraft can be the future of how people will travel in and around cities. In a market projected by Morgan Stanely to be worth $1 trillion by 2040, it's exciting that Archer is among the first publicly-traded companies working to build this future," said Archer co-founder and co-CEO Brett Adcock. "Closing this transaction will help fund Archer's vision of bringing an eVTOL to market and launching an urban air mobility network." 

"The completion of this deal not only represents capital secured, but also the belief of our investors in Archer’s long-term vision" said Archer co-founder and co-CEO Adam Goldstein. "We're confident that this transaction will propel Archer forward towards its goal of changing the way everyday people look at city travel and do so in a way that helps our planet.”

Continue to follow along with Archer’s journey via www.archer.com.

Archer’s mission is to advance the benefits of sustainable air mobility. Archer’s goal is to move people throughout the world's cities in a quick, safe, sustainable, and cost-effective manner. Archer is designing and developing electric vertical takeoff and landing aircraft for use in urban air mobility. Archer's team is based in Palo Alto, CA. To learn more, visit www.archer.com 

Today, the founders and other early employees of Archer rang the opening bell of the New York Stock Exchange, ushering in a new era for the company

Archer Rings Opening Bell to Celebrate the Closing of its Business Combination and Listing on the NYSE 

Palo Alto, CA, September 17, 2021 - Archer Aviation Inc. (“Archer'') (NYSE: ACHR), a leading developer of all-electric vertical takeoff and landing (“eVTOL”) aircraft, announced that its Class A common stock and warrants will begin trading on the New York Stock Exchange under the symbols “ACHR” and “ACHR WS”, respectively, today.

“Completing our go-public transaction and having Archer trade on the New York Stock Exchange is a huge milestone for our business. This is the culmination of a lot of hard work by the great team we have at Archer, but it is also the beginning of the next phase of our development and growth,” said Brett Adcock, co-founder and co-CEO of Archer.

“We are working to build an urban air mobility network that can change the way people travel in and around cities forever. We believe we have the team, the technology and the strategic partners to make our vision a reality,” said Adam Goldstein, co-founder and co-CEO of Archer.

The Business Combination generated approximately $857.6 million of gross proceeds, including $600 million of proceeds from the PIPE which will help fund Archer's vision of bringing an electric vertical takeoff and landing vehicle (eVTOL) to market and launching an urban air mobility network.

The PIPE included participation from leading strategic and long-term financial investors including United Airlines, Stellantis and the venture arm of Exor, Baron Capital Group, the Federated Hermes Kaufmann Funds, Mubadala Capital, Putnam Investments and Access Industries. Additionally, Ken Moelis and affiliates, along with early investor Marc Lore and founders Brett Adcock and Adam Goldstein, invested $30 million in the PIPE.

Moelis & Company LLC served as exclusive placement agent on the PIPE. Barclays Capital Inc. served as exclusive financial and capital markets advisor to Archer. Moelis & Company LLC served as exclusive financial advisor to Atlas Crest. Cantor Fitzgerald & Co. served as exclusive capital markets advisor to Atlas Crest. Duff & Phelps, LLC provided a fairness opinion in connection with the transaction to the Atlas Crest board of directors. Cooley LLP served as legal advisor to Archer. Kirkland & Ellis LLP served as legal advisor to Atlas Crest.

Archer’s mission is to advance the benefits of sustainable air mobility. Archer’s goal is to move people throughout the world's cities in a quick, safe, sustainable, and cost-effective manner. Archer is designing and developing electric vertical takeoff and landing (eVTOL) aircraft for use in urban air mobility. Archer's team is based in Palo Alto, CA. To learn more, visit www.archer.com.

This press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact contained in this release, including statements regarding Archer’s future operating results and financial position, business strategy and plans, objectives of management for future operations are forward-looking statements. These statements are based on Archer’s current expectations, assumptions, estimates and projections. These statements involve known and unknown risks, uncertainties and other important factors that may cause Archer’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements are based on management’s current expectations and assumptions regarding the Archer’s business, the economy and other future conditions.

In some cases, you can identify forward-looking statements by terms such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative of these terms or other similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, without limitation, those factors described in the Company’s filings with the Securities and Exchange Commission.

Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. New risks and uncertainties arise over time, and it is not possible for Archer’s to predict those events or how they may affect Archer. If a change to the events and circumstances reflected in Archer’s forward-looking statements occurs, Archer’s business, financial condition and operating results may vary materially from those expressed in Archer’s forward-looking statements. If a change to the events and circumstances reflected in Archer’s forward-looking statements occurs, Archer’s business, financial condition and operating results may vary materially from those expressed in Archer’s forward-looking statements. Except as required by applicable law, Archer does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events or otherwise.

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investors@archer.com

For Media
Louise Bristow
Archer
louise.bristow@archer.com
archer@launchsquad.com

Archer Begins Trading on the New York Stock Exchange Under the Symbol “ACHR”

“Completing our go-public transaction and having Archer trade on the New York Stock Exchange is a huge milestone for our business...but it is also the beginning of the next phase of our development and growth,” said Brett Adcock, co-founder and co-CEO of Archer.

The field of urban air mobility (UAM) cannot be developed solely around the technology of electric vertical takeoff and landing (eVTOL) aircraft. For UAM to succeed as an alternative to two-dimensional travel on roads, we also have to face the challenge of creating a three-dimensional infrastructure to address traffic in the sky. That’s why Archer created Prime Radiant, its proprietary data science technology in support of its efforts to develop an eVTOL and UAM network. Creating safe, affordable and sustainable eVTOL aircraft isn’t enough to bring the UAM network vision to life. We’re also being thoughtful about designing our UAM network infrastructure to make sure this new technology is as accessible and efficient as possible with the goal of mass adoption. Minimizing the amount of time it takes to get to and from UAM network vertiports is equally as important as the amount of time you spend in the air.  

We know that smart planning can reduce traffic congestion and noise pollution, and improve the overall quality of life in a city’s communities. UAM presents players within the emerging eVTOL industry with the rare opportunity to create a transportation infrastructure, literally from the ground up. 

Our aim is to use data to allow us to make better decisions on building out our UAM network, including matters like where to locate vertiports in order to ensure accessibility, and how to plan routes to optimize for efficiency and minimize disruption to the daily activities happening in our communities. We also use data to look at how to pool passengers more efficiently to enable attractive fare pricing, and how to save those passengers time on their journeys. Beyond just our own operations, we also plan to use data as we work closely with our city partners to help ensure that UAM fits seamlessly into their future transit networks. UAM has the opportunity to move past the limitations that our current urban travel infrastructure imposes on our daily lives (e.g., traffic gridlock that can only be fixed by adding more lanes, which can take years to do and be very expensive).

Archer’s solution for helping it efficiently design and develop its UAM network is Prime Radiant, a system simulation framework that determines optimal vertiport networks and vehicle specifications to maximize unit economics and customer experiences. Prime Radiant is poised to help us build UAM technology and infrastructure that we believe will revolutionize the way people move in and around cities.

Powered by proprietary large-scale optimization and machine learning models, Prime Radiant allows us to better understand how people travel within cities around the world, which will inform our strategic decisions that shape our go-to-market strategy. Leading the way on the project is Jon Petersen, who, prior to Archer, led Data Science at Uber Elevate. 

Through our data modeling, Petersen and his experienced team guide decisions related to Archer’s vehicle specification requirements for speed, range and passenger capacity, a host of logistical problems (including passenger pooling, aircraft routing and battery charging decisions, and vertiport infrastructure locations and topologies) and estimating the overall market size and revenue opportunity of a particular city.

“We use Prime Radiant to better understand where to put takeoff and landing sites, what to charge for the service, and ultimately how to save people time in their commute,” Archer co-founder Brett Adcock told Aviation Today. “For takeoff and landing sites, our goal is to use existing real estate with light retrofitting whenever possible, that includes helipads and other locations such as rooftops, land parcels and parking lots.”

Many airports are typically located on the outskirts of major cities because they require large amounts of land to accommodate the runways required for commercial aircraft and to mitigate sound pollution. In addition to this, many inter-city train stations were not built in optimal locations, limiting their convenience for passengers. Empowered by the data from Prime Radiant, Archer will look to make planning decisions that can meet passengers where and how they want to travel, instead of forcing passengers to conform to infrastructure routes that were planned based on norms established decades ago. 

Prime Radiant is just one more way that Archer is ensuring that eVTOL transportation is fair, equitable and available to all passengers looking for a better way to travel.

Why Archer created Prime Radiant, its proprietary data science technology in support of its efforts to develop an eVTOL and UAM network.

Optimizing for the Third Dimension: Prime Radiant™

why Archer created Prime Radiant, its proprietary data science technology in support of its efforts to develop an eVTOL and UAM network.

September 16, 2021 New York - Archer Aviation Inc. announced today that it has closed its business combination with Atlas Crest Investment Corp. (NYSE: ACIC) (“Atlas Crest”), a special purpose acquisition company. Upon the completion of the transaction, Atlas Crest changed its name to “Archer Aviation Inc.” Archer’s common stock and warrants will commence trading on the New York Stock Exchange (“NYSE”) on September 17, 2021, under the ticker symbols “ACHR” and “ACHR WS”, respectively.

Brett Adcock, Co-Founder and Co-CEO of Archer, said, “Today marks a great moment for the Archer team and we are excited to push forward with additional capital as we pursue our goal of bringing our urban air mobility network vision to life.” Michael Spellacy, CEO of Atlas Crest, added, “We are pleased to have reached this important milestone in closing our transaction with Archer. With the proceeds from this transaction, Archer is entering the public markets from a position of financial and competitive strength to accomplish their mission of revolutionizing the future of urban transportation.”

Atlas Crest Investment Corp. (NYSE: ACIC) is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses and is sponsored by an affiliate of Moelis & Company, a leading global financial advisor to corporate executives, boards, entrepreneurs, financial sponsors and governments. The management team is led by Ken Moelis, Chairman, and Michael Spellacy, Chief Executive Officer, both of whom have had careers centered around identifying, evaluating and implementing organic and inorganic transformational growth and value creation initiatives across a broad range of industries. Atlas Crest priced its $500 million initial public offering on October 27, 2020.

For Media
Louise Bristow
Archer
C: 818 398 8091
louise.bristow@archer.com
archer@launchsquad.com

Atlas Crest changed its name to “Archer Aviation Inc.” Archer’s common stock and warrants will commence trading on the New York Stock Exchange (“NYSE”) on September 17, 2021, under the ticker symbols “ACHR” and “ACHR WS”, respectively.

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