Archer Aviation Files for Resale of Nearly 5 Million Shares, Issues Stock to Vendor
Archer Aviation has filed a prospectus supplement with the U.S. Securities and Exchange Commission to register the resale of up to 4,960,317 shares of its Class A common stock by selling stockholders. The company will not receive any proceeds from this resale. Concurrently, Archer announced it will issue 23,255 shares of its Class A common stock to a vendor. This issuance is part of a previously established agreement for services rendered to the company. These financial maneuvers come as the company continues to develop its electric vertical takeoff and landing (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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