STLA - What's Going On With Archer Aviation Stock After Auto-Giant Stellantis Invests Another $55 Million? | Benzinga
Archer Aviation Inc. (NYSE:ACHR) shares are trading higher Tuesday after the company announced it has received an additional $55 million investment from Stellantis N.V. (NYSE:STLA) under the companies’ strategic funding agreement.
The Details:
Archer Aviation received the additional $55 million investment from Stellantis following the achievement of its transition flight test milestone last month.
Archer highlighted this investment is in addition to Stellantis’ series of open market purchases of 8.3 million shares of Archer’s stock in March 2024 and $110 million in a combination of open market stock purchases and investments under the companies’ strategic funding agreement in 2023.
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