Archer Aviation Files for Major Share Resale, Issues Stock to Partner Honeywell
Archer Aviation has filed a registration statement with the U.S. Securities and Exchange Commission for the potential resale of up to 14,245,631 shares of its Class A common stock. These shares are being offered by existing securityholders from a private placement agreement announced in August 2023, and Archer will not receive any proceeds from the sale. Separately, the company announced it will issue approximately 1.48 million shares to a key vendor, Honeywell International Inc. This issuance is part of a 2021 agreement for the supply of flight control and thermal management technologies for Archer's Midnight eVTOL aircraft.
Official Source: https://www.investing.com/news/sec-filings/archer-aviation-files-for-resale-of-shares-and-announces-vendor-stock-issuance-93CH-4545721
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