Archer (ACHR) stock jumped on Monday after the air-taxi maker agreed to buy three of Boeing's (BA) aerospace subsidiaries, handing the planemaker an equity stake in return for cash.
Under the agreements, Archer will acquire Boeing's Wisk Aero, the autonomous eVTOL developer; SkyGrid, an air traffic management software firm; and Insitu, a defense drone maker.
Boeing will be paid mostly in Archer stock, receiving newly issued stock equal to 19.75% of Archer's shares outstanding just before closing, leaving it with an approximate 16.5% stake once the deal is done.
Boeing also agreed to invest up to $55 million in an upcoming Archer funding round and take warrants to eventually buy up to $200 million of stock down, positioning the planemaker as one of Archer's largest shareholders.
#boeing #maker
Under the agreements, Archer will acquire Boeing's Wisk Aero, the autonomous eVTOL developer; SkyGrid, an air traffic management software firm; and Insitu, a defense drone maker.
Boeing will be paid mostly in Archer stock, receiving newly issued stock equal to 19.75% of Archer's shares outstanding just before closing, leaving it with an approximate 16.5% stake once the deal is done.
Boeing also agreed to invest up to $55 million in an upcoming Archer funding round and take warrants to eventually buy up to $200 million of stock down, positioning the planemaker as one of Archer's largest shareholders.
#boeing #maker
3 months ago
