United Airlines places a conditional order for Archer eVTOL aircraft

Archer Aviation/Midnight

Archer announced a conditional purchase agreement with United Airlines during its planned stock-market listing through merger with Atlas Crest Investment Corp. United contributed as an investor alongside Stellantis and others in the $600 million PIPE at $10 per share, establishing Archer's first airline customer with a $1 billion aircraft order and $500 million in additional options, subject to business and operating requirements.

• $1 billion order value; $500 million in additional options; both conditional on operational needs
• Priced at $10 per share for PIPE participation by United and other strategic investors
• Aircraft designed for 60-mile range at up to 150 mph with minimal noise
• First major airline customer for an eVTOL startup; listing and PIPE financing enabled transaction