Archer Aviation stockholders approve doubling authorized shares, Stellantis share issuance, foreign ownership limits

Archer Aviation Inc.

Stockholders approved increase in authorized Class A common stock from 700M to 1.4B shares (587.9M for, 17.0M against).
Approved issuance of Class A shares to Stellantis N.V. under Subscription Agreement, Forward Issuance Agreement, and warrants.
Charter and bylaw amendments limit Non-Citizen voting to 25%, require 2/3 board and officers be U.S. citizens.
Effective Dec 26, 2024; amendments comply with DOT requirements for U.S. air carrier status.

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