{"id":539358,"date":"2021-09-16T16:41:01","date_gmt":"2021-09-16T20:41:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/"},"modified":"2021-09-16T16:41:01","modified_gmt":"2021-09-16T20:41:01","slug":"archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/","title":{"rendered":"ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company"},"content":{"rendered":"

<\/p>\n

\nArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company\n<\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nArcher Aviation Inc. announced today that it has closed its business combination with Atlas Crest Investment Corp. (NYSE: ACIC) (\u201cAtlas Crest\u201d), a special purpose acquisition company. Upon the completion of the transaction, Atlas Crest changed its name to \u201cArcher Aviation Inc.\u201d Archer\u2019s common stock and warrants will commence trading on the New York Stock Exchange (\u201cNYSE\u201d) on September 17, 2021, under the ticker symbols \u201cACHR\u201d and \u201cACHR WS\u201d, respectively.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210916005890\/en\/<\/a><\/p>\n

\nBrett Adcock, Co-Founder and Co-CEO of Archer, said, \u201cToday 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.\u201d Michael Spellacy, CEO of Atlas Crest, added, \u201cWe are pleased to have reached this important milestone in closing our transaction with Archer. With the proceeds from this transaction, Archer is entering the public markets from a position of financial and competitive strength to accomplish their mission of revolutionizing the future of urban transportation.\u201d\n<\/p>\n

\nThe Business Combination generated approximately $857.6 million of gross proceeds, including $600 million of proceeds from the PIPE which will help fund Archer’s vision of bringing an electric vertical takeoff and landing vehicle (eVTOL) to market and launching an urban air mobility network.\n<\/p>\n

Advisors<\/b><\/p>\n

\nMoelis & Company LLC served as exclusive placement agent on the PIPE. Barclays Capital Inc. served as exclusive financial and capital markets advisor to Archer. Moelis & Company LLC served as exclusive financial advisor to Atlas Crest. Cantor Fitzgerald & Co. served as exclusive capital markets advisor to Atlas Crest. Duff & Phelps, LLC provided a fairness opinion in connection with the transaction to the Atlas Crest board of directors. Cooley LLP served as legal advisor to Archer. Kirkland & Ellis LLP served as legal advisor to Atlas Crest.\n<\/p>\n

About Archer<\/b><\/p>\n

\nArcher\u2019s mission is to advance the benefits of sustainable air mobility. Archer\u2019s goal is to move people throughout the world’s cities in a quick, safe, sustainable, and cost-effective manner. Archer is designing and developing electric vertical takeoff and landing (eVTOL) aircraft for use in urban air mobility. Archer’s team is based in Palo Alto, CA. To learn more, visit www.archer.com<\/a>.\n<\/p>\n

About Atlas Crest<\/b><\/p>\n

\nAtlas Crest Investment Corp. (NYSE: ACIC) is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more businesses and is sponsored by an affiliate of Moelis & Company, a leading global financial advisor to corporate executives, boards, entrepreneurs, financial sponsors and governments. The management team is led by Ken Moelis, Chairman, and Michael Spellacy, Chief Executive Officer, both of whom have had careers centered around identifying, evaluating and implementing organic and inorganic transformational growth and value creation initiatives across a broad range of industries. Atlas Crest priced its $500 million initial public offering on October 27, 2020.\n<\/p>\n

Forward-Looking Statements<\/b><\/p>\n

\nThis press release contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact contained in this release, including statements regarding Archer\u2019s future operating results and financial position, business strategy and plans, objectives of management for future operations are forward-looking statements. These statements are based on Archer\u2019s current expectations, assumptions, estimates and projections. These statements involve known and unknown risks, uncertainties and other important factors that may cause Archer\u2019s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements are based on management\u2019s current expectations and assumptions regarding the Archer\u2019s business, the economy and other future conditions.\n<\/p>\n

\nIn some cases, you can identify forward-looking statements by terms such as \u201cbelieve,\u201d \u201cproject,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cstrategy,\u201d \u201cfuture,\u201d \u201copportunity,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cwill be,\u201d \u201cwill continue,\u201d \u201cwill likely result\u201d or the negative of these terms or other similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including, without limitation, those factors described in the Company\u2019s filings with the Securities and Exchange Commission.\n<\/p>\n

\nBecause forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. New risks and uncertainties arise over time, and it is not possible for Archer\u2019s to predict those events or how they may affect Archer. If a change to the events and circumstances reflected in Archer\u2019s forward-looking statements occurs, Archer\u2019s business, financial condition and operating results may vary materially from those expressed in Archer\u2019s forward-looking statements. If a change to the events and circumstances reflected in Archer\u2019s forward-looking statements occurs, Archer\u2019s business, financial condition and operating results may vary materially from those expressed in Archer\u2019s forward-looking statements. Except as required by applicable law, Archer does not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events or otherwise.\n<\/p>\n

\nSource: Archer
\n
Text: ArcherIR\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210916005890\/en\/<\/a><\/span><\/p>\n

For Investors
\n<\/b>
investors@archer.com <\/a><\/p>\n

For Media
\n<\/b>
Louise Bristow
\n
Archer
\n
C: 818 398 8091
\n
louise.bristow@archer.com
\n<\/a>
archer@launchsquad.com <\/a><\/p>\n

KEYWORDS:<\/b> United States North America New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Other Manufacturing Finance Other Transport Professional Services Air Aerospace Transport Manufacturing<\/p>\n

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ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company NEW YORK–(BUSINESS WIRE)– Archer Aviation Inc. announced today that it has closed its business combination with Atlas Crest Investment Corp. (NYSE: ACIC) (\u201cAtlas Crest\u201d), a special purpose acquisition company. Upon the completion of the transaction, Atlas Crest changed its name to \u201cArcher Aviation Inc.\u201d Archer\u2019s common stock and warrants will commence trading on the New York Stock Exchange (\u201cNYSE\u201d) on September 17, 2021, under the ticker symbols \u201cACHR\u201d and \u201cACHR WS\u201d, respectively. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210916005890\/en\/ Brett Adcock, Co-Founder and Co-CEO of Archer, said, \u201cToday marks a great moment for the Archer team and we are … <\/p>\n

Continue reading “ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-539358","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company NEW YORK–(BUSINESS WIRE)– Archer Aviation Inc. announced today that it has closed its business combination with Atlas Crest Investment Corp. (NYSE: ACIC) (\u201cAtlas Crest\u201d), a special purpose acquisition company. Upon the completion of the transaction, Atlas Crest changed its name to \u201cArcher Aviation Inc.\u201d Archer\u2019s common stock and warrants will commence trading on the New York Stock Exchange (\u201cNYSE\u201d) on September 17, 2021, under the ticker symbols \u201cACHR\u201d and \u201cACHR WS\u201d, respectively. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210916005890\/en\/ Brett Adcock, Co-Founder and Co-CEO of Archer, said, \u201cToday marks a great moment for the Archer team and we are … Continue reading "ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-16T20:41:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210916005890r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company\",\"datePublished\":\"2021-09-16T20:41:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\\\/\"},\"wordCount\":985,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20210916005890r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\\\/\",\"name\":\"ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company - 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(NYSE: ACIC) (\u201cAtlas Crest\u201d), a special purpose acquisition company. Upon the completion of the transaction, Atlas Crest changed its name to \u201cArcher Aviation Inc.\u201d Archer\u2019s common stock and warrants will commence trading on the New York Stock Exchange (\u201cNYSE\u201d) on September 17, 2021, under the ticker symbols \u201cACHR\u201d and \u201cACHR WS\u201d, respectively. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210916005890\/en\/ Brett Adcock, Co-Founder and Co-CEO of Archer, said, \u201cToday marks a great moment for the Archer team and we are … Continue reading \"ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/","og_site_name":"Market Newsdesk","article_published_time":"2021-09-16T20:41:01+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210916005890r1&sid=flmnd&distro=nx&lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company","datePublished":"2021-09-16T20:41:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/"},"wordCount":985,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20210916005890r1&sid=flmnd&distro=nx&lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/archeraviation-announces-closing-of-business-combination-with-atlas-crest-investment-corp-to-become-a-publicly-traded-company\/","name":"ArcherAviation Announces Closing of Business Combination with Atlas Crest Investment Corp. to Become A Publicly Traded Company - 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