Electric aircraft startup Archer Aviation plans to go public by merging with a SPAC in a deal that will give the company a multibillion dollar valuation, IPO Edge reports.
The announcement could come as early as next week, sources reportedly told IPO Edge. The transaction announcement will likely include PIPE financing of at least $500 million from strategic investors, including an airline.
It is not clear which SPAC intends to merge with Archer. The company didn’t respond to requests for comment.
California-based Archer is part of the electric air-mobility market that Morgan Stanley says could be valued at $1.5 trillion by 2040. Read more.
