Archer raises $301.75M equity offering; Q4 non-GAAP op ex guidance reaffirmed

Archer Aviation Inc.

Issued 35.5M shares at $8.50/share for gross proceeds of $301.75M; net proceeds ~$289.8M.
Total liquidity expected to reach ~$1B after close; offering led by BlackRock and other institutional investors.
Preliminary Q4 2024 GAAP op ex $120M-$140M; non-GAAP op ex $95M-$110M, in line with prior guidance.
Net proceeds to fund next-gen aircraft manufacturing capacities (batteries, composites) and general corporate purposes.
Archer Defense hybrid aircraft platform accelerated; CEO sees larger-than-expected defense opportunity.

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