Overview
- Archer signed definitive agreements to acquire control of Hawthorne Municipal Airport for $126 million in cash, intending to make it the hub of its LA eVTOL network and an AI operations test site, subject to City of Hawthorne approval.
- The plan includes rights to expand hangar space and an exclusive option through 2026 to acquire a 75% stake in the airport’s fixed-base operator to integrate fueling, handling, and air taxi services.
- The company launched a registered direct offering of 81.25 million shares at $8, bringing total liquidity to more than $2 billion to help fund the airport deal and ongoing operations.
- Shares fell double digits on Friday on dilution worries, even as backers such as United Airlines Ventures voiced support for Archer’s AI-enabled operations vision.
- Archer posted a Q3 loss of $0.20 per share and an adjusted EBITDA loss of $116.1 million, guided a Q4 adjusted EBITDA loss of $110–$140 million, and reported closing a Lilium patent purchase and new Midnight flight-test milestones.