---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-034194"
form_type: "8-K"
ticker: "ACHR"
cik: "0001824502"
company_name: "Archer Aviation Inc."
filed_at: "2023-10-10T23:59:59+00:00"
generated_at: "2026-06-10T02:43:47.529902+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Archer Aviation enters $65M credit facility for Georgia manufacturing facility

## Summary
- Entered design-build agreement for high-volume manufacturing facility in Covington, GA with guaranteed max price ~$54.4M.
- Signed $65M credit agreement with Synovus Bank; interest at SOFR+2%, interest-only first 36 months.
- Loans secured by cash and assets in a Synovus account; required to maintain $100M cash balance.
- Credit agreement matures October 2033; proceeds used for facility construction and development.

## SEC filing metadata
- accession: 0001628280-23-034194
- form_type: 8-K
- ticker: ACHR
- cik: 0001824502
- company_name: Archer Aviation Inc.
- filed_at: 2023-10-10T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1824502/000162828023034194/0001628280-23-034194-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1824502/000162828023034194/achr-20231003.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-034194
- JSON: https://secwatch.observer/filing/0001628280-23-034194.json
- Plain text: https://secwatch.observer/filing/0001628280-23-034194.txt

## Key facts
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1824502/000162828023034194/0001628280-23-034194-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1824502/000162828023034194/0001628280-23-034194-index.htm
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1824502/000162828023034194/0001628280-23-034194-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.