Archer Aviation to acquire Boeing's Wisk Aero, Insitu, and SkyGrid in stock deal

Published Aug 15, 08:43 AM UTC

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Archer Aviation (NYSE: ACHR) is acquiring Boeing's subsidiaries Wisk Aero, Insitu, and SkyGrid in a stock-based transaction. Archer will issue Boeing new shares equal to 19.75% of its outstanding shares, leaving Boeing with about 16.5% ownership. The deal brings Archer over $200 million in annual profitable revenue from Insitu, a maker of unmanned military aircraft used by 35 nations, compared to Archer's own trailing revenue of $6.9 million. Boeing also receives two warrants for $100 million each at $13.00 and $17.88 per share, a board seat nomination right, and an agreement to buy up to $55 million in a future Archer offering. The acquisition is expected to close by end of 2026 pending regulatory approvals. Archer's valuation remains heavily tied to its electric air taxi Midnight, with the acquired businesses contributing only about $200 million of the company's $4.8 billion market cap.

Source

Yahoo FinanceWestern

Original headline: Archer Aviation Has $6.9 Million of Revenue. It's Buying a Boeing Business With More Than $200 Million.

Original language: EN-US

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