Fenwick Represents Archer Aviation in its $175 Million Equity Investment

Fenwick represented Archer Aviation (NYSE: ACHR), a leading designer and developer of electric vertical takeoff and landing (eVTOL) aircraft for use in urban air mobility networks (UAM), in its $175 million equity investment from institutional and strategic investors, including Stellantis (NYSE: STLA), the parent company of Fiat Chrysler Automobiles and PSA Group, and United Airlines (Nasdaq: UAL). In connection with the financing, Archer Aviation also announced an agreement in principle with Stellantis on a contract manufacturing relationship, including a contribution by Stellantis of up to $400 million to help scale Archer’s Midnight manufacturing.

Archer Aviation will use the funds from the equity investment for working capital and general corporate purposes. More information can be obtained from Archer’s announcement.

The Fenwick transaction team was led by corporate partners Patrick Grilli, Ran Ben-Tzur and Aman Singh and included associates Arielle Trapp, Tyler Gratton, Christian Choi, Sammi Chen and Sarah Marshall.