NYSE — Industrials: Manufacturing, Aerospace & Defense: Aircraft
www.archer.comArcher Aviation Inc. and Anduril Industries will conclude their exclusive strategic collaboration, which was focused on developing a next-generation vertical take-off and landing (VTOL) aircraft for military applications. The collaboration, announced in December 2024 and ending in May 2026, was aimed at creating hybrid-propulsion aircraft targeting a potential program of record with the U.S. Department of Defense. Archer anticipates channeling significant resources into this venture, which is in the early stages of development and critical to meeting defense industry standards. Archer expects to finance the joint project through proceeds from recent private placements, totaling approximately $430 million, intended to further its commercialization strategies and support infrastructure expansion.
End of Collaboration Term