• 25 Oct 2021 04:52 AM
• 0

Archer Goes Public, Opens NYSE

Archer Aviation, the California-based eVTOL manufacturer, began trading on the New York Stock Exchange (NYSE) on Sept. 17, a day after Atlas Crest Investment Corp. announced the completion of the SPAC merger with Archer. Archer co-founders Adam Goldstein and Brett Adcock celebrated the move to go public by ringing the opening bell at the NYSE the following Monday, Sept. 20. Archer (ACHR) follows Lilium (LILM) and Joby Aviation (JOBY), which began trading on the NYSE in August, as the latest eVTOL company to go public. Meanwhile, in a press release on Sept. 7, Archer announced that it had obtained a G-1 paper certification from the US Federal Aviation Administration (FAA) for its eVTOL aircraft. “This collaborative relationship [with the FAA] ensures that we explore all avenues to ensure that our aircraft is made as safe as possible,” an Archer spokesperson said in an interview with Aviation Today. “'Certification first' embodies our commitment to building an aircraft that can be validated and approved for commercial use, so we can go on to realize our goal of transforming urban mobility.”