Archer rings opening bell on the NYSE and celebrates completion of business merger with Atlas Crest Investment Corp.

Archer has cel­e­brat­ed the com­ple­tion of its busi­ness com­bi­na­tion with Atlas Crest Invest­ment Corp, with the cer­e­mo­ni­al ring­ing of the New York Stock Exchange open­ing bell.

The clos­ing of the busi­ness com­bi­na­tion has gen­er­at­ed $857.6 mil­lion of gross pro­ceeds, which will help fund Archer’s vision of bring­ing its eVTOL air­craft to mar­ket and launch­ing urban air mobil­i­ty net­works in cities across the world. Com­pa­ny shares are trad­ing under the tick­er sym­bol ACHR.

Led by co-founder and co CEOs Adam Gold­stein and Brett Adcock, Archer’s momen­tum con­tin­ues to build and has been fur­ther bol­stered by recent mile­stones, such as agree­ing to its G‑1 Cer­ti­fi­ca­tion Basis with the FAA, its Mak­er Air­craft unveil­ing, and its part­ner­ship with REEF.

Adcock said: “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.

“Clos­ing this trans­ac­tion will help fund Archer’s vision of bring­ing an eVTOL to mar­ket and launch­ing an urban air mobil­i­ty net­work.” 

Gold­stein added: “The com­ple­tion of this deal not only rep­re­sents cap­i­tal secured, but also the belief of our investors in Archer’s long-term vision. 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.”