Archer signs manufacturing collaboration with Stellantis; up to $150M equity and 15M warrants

Archer Aviation Inc.

Stellantis to provide personnel and resources for eVTOL aircraft manufacturing at Covington, GA plant.
Archer may issue up to $150M of Class A common stock to Stellantis upon achieving milestones under Forward Purchase Agreement.
Stellantis receives warrant to purchase 15M Class A shares at $0.01 per share, vesting in tranches tied to performance or stock price.
Stellantis gains board nomination right for one Class II director and exclusivity rights through Jan 2026.
Standstill and transfer restrictions apply to Stellantis until Dec 2024 or a Change in Control.

item 1.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Archer Aviation Inc. entered into Manufacturing Collaboration Agreement with Stellantis N.V. (effective 2023-01-03).

Action: entry
Agreement: collaboration
Counterparty: Stellantis N.V.
Effective: 2023-01-03

Exact text from the filing

On January 3, 2023, Archer Aviation Inc. (the “Company”) entered into a Manufacturing Collaboration Agreement (the “Collaboration Agreement”) with Stellantis N.V. (“Stellantis”), pursuant to which the Company and Stellantis will collaborate on the development and implementation of the Company’s manufacturing operations for the production of its eVTOL aircraft products.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Archer Aviation Inc. entered into Warrant Agreement with Stellantis N.V. valued at up to 15.0 million (effective 2023-01-03).

Action: entry
Agreement: equity purchase
Counterparty: Stellantis N.V.
Value: up to 15.0 million
Effective: 2023-01-03

Exact text from the filing

the Company and Stellantis entered into a warrant to purchase Class A Shares of the Company (the “Warrant Agreement”), dated January 3, 2023, pursuant to which Stellantis is entitled to purchase up to 15.0 million

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Archer Aviation Inc. entered into Forward Purchase Agreement with Stellantis N.V. valued at $150.0 million (effective 2023-01-03).

Action: entry
Agreement: equity purchase
Counterparty: Stellantis N.V.
Value: $150.0 million
Effective: 2023-01-03

Exact text from the filing

the Company entered into a forward purchase agreement (the “Forward Purchase Agreement”) with Stellantis on January 3, 2023, pursuant to which the Company may elect, in the Company’s sole discretion, to issue and sell to Stellantis up to $150.0 million of shares (“Forward Purchase Shares”) of the Company’s Class A Common Stock

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Archer Aviation Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-002272

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