Archer Aviation acquires Hawthorne Airport lease, subleases and hangar development rights for $126M cash

Archer Aviation Inc.

Acquisition of Master Lease (through 2055) and Subleases at Hawthorne Airport for $126M in cash; closing expected by end of 2025.
Option to buy 75% of fixed based operator from Advanced Air for $25M before Dec 31, 2026.
Development agreement for 63,000 sq ft additional hangar space at $20.4M, paid in installments.
Assumes ~$16M loan at 6.3% maturing April 2030 (with 5-year extension option).
Up to $21.4M in earn-out shares of Class A common stock for Sellers/employees based on performance milestones over 3 years.

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