Archer went public via a SPAC merger with Atlas Crest in a $3.8bn deal.

Archer, an aerospace company building an all-electric vertical takeoff and landing aircraft, went public via a SPAC merger with Atlas Crest, a special acquisition company, in a $3.8bn deal. Additional investors include United Airlines, Ken Moelis and Mubadala Capital. Archer is chasing an electric air-mobility market that could be valued at $1.5tn by 2040. The transaction announcement includes PIPE financing of at least $500m from investors. “Today marks a great moment for the Archer team and we are excited to push forward with additional capital as we pursue our goal of bringing our urban air mobility network vision to life," Brett Adcock, Archer Co-Founder and Co-CEO.