Archer Aviation (ACHR) said Thursday it is collaborating with Anduril Industries to co-develop a hybrid verticle take-off and landing aircraft for defense applications, for a potential US Department of Defense initiative.
Financial details weren't disclosed.
To advance this initiative Archer raised $430 million in equity funding from Stellantis (STLA), United Airlines (UAL), Wellington Management, and 2PointZero, the company said.
Shares of Archer Aviation were down nearly 5% in recent Thursday trading.
Price: 7.06, Change: -0.34, Percent Change: -4.53
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments