Fenwick Represents Archer Aviation in its $215 Million Equity Investment from Stellantis, Boeing, United Airlines, ARK Invest and Others

Fenwick represented Archer Aviation Inc. (NYSE: ACHR), a leading designer and developer of electric vertical takeoff and landing (eVTOL) aircraft for use in urban air mobility networks (UAM), in a $215 million equity investment from Stellantis (NYSE: STLA), Boeing (NYSE: BA), United Airlines (Nasdaq: UAL), ARK Invest, as well as other financial institutions.

As part of the investment, Stellantis, Archer’s long-term strategic partner and the parent company of Fiat Chrysler Automobiles and PSA Group, provided an accelerated contribution of $70 million from a January 2023 strategic funding arrangement between the two companies. Since its founding in 2018, Archer Aviation has raised over $1.1 billion from investors and secured Federal Aviation Administration (FAA) approval to begin flying its Midnight eVTOL aircraft. More information can be obtained from Archer’s announcement.

In connection with the investment round, Archer and Wisk, along with Boeing, announced a collaboration that looks forward to the growth and development of the advanced air mobility (AAM) industry. Fenwick represented Archer in connection with this announced collaboration.

The Fenwick transaction team included corporate partners Patrick Grilli and Ran Ben-Tzur and associates Joshua Damm, Arielle Trapp, Kristina Hurley and Ankeet Ball.