Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Archer Aviation Inc. incurred credit facility of up to $65.0 million with Synovus Bank at SOFR, plus 2.00% subject to a SOFR floor of 0.00% maturing October 5, 2033.
- Instrument
- credit facility
- Principal
- up to $65.0 million
- Counterparty
- Synovus Bank
- Rate
- SOFR, plus 2.00% subject to a SOFR floor of 0.00%
- Maturity
- October 5, 2033
- Event
- incurrence
Exact text from the filing
Pursuant to the Credit Agreement, the Company may request the Lenders to provide multiple delayed term loan advances (“Loans”) in an aggregate principal amount of up to $65.0 million for the construction and development of the Project, subject to certain limitations and requirements. The Loans under the Credit Agreement shall accrue interest from and
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.98
Archer Aviation Inc. entered into Design-Build Agreement with Evans General Contractors, LLC valued at guaranteed maximum price of approximately $54.4 million (effective 2023-10-03).
- Action
- entry
- Counterparty
- Evans General Contractors, LLC
- Value
- guaranteed maximum price of approximately $54.4 million
- Effective
- 2023-10-03
Exact text from the filing
On October 3, 2023, Archer Aviation Operating Corp., a Delaware corporation and wholly owned subsidiary of Archer Aviation Inc. (the “Company”), entered into a design-build agreement (the “Agreement”) with Evans General Contractors, LLC (the “Contractor”) relating to the design, coordination and build of the Company’s high-volume manufacturing facility in Covington, Georgia (the “Project”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
Archer Aviation Inc. entered into Credit Agreement with Synovus Bank valued at $65.0 million (effective 2023-10-05).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Synovus Bank
- Value
- $65.0 million
- Effective
- 2023-10-05
Exact text from the filing
On October 5, 2023, the Company entered into a credit agreement (the “Credit Agreement”), by and among the Company, as borrower, the Company’s wholly-owned domestic subsidiaries as guarantors, and Synovus Bank (“Synovus”), as administrative agent and lender, and the additional lenders from time to time party thereto (the “Lenders”).
View on SEC.gov