BUZZ-Archer Aviation falls on $302 million funding from institutional investors
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Archer Aviation's shares fell by up to 10.3% after announcing a $301.8 million funding round from institutional investors, including BlackRock. The financing aims to enhance its hybrid aircraft platform and strengthen its balance sheet, increasing total liquidity to approximately $1 billion. Investors will purchase 35.5 million shares at $8.50 each, a 16.7% discount from the last closing price. Archer has 489.2 million outstanding shares, with a market capitalization of $4.99 billion as of the last close.
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