PALO ALTO, Calif., Feb. 10, 2021 (GLOBE NEWSWIRE) — Archer, a leading urban air mobility („UAM“) company and developer of all-electric vertical take-off and landing („eVTOL“) aircraft, and Atlas Crest Investment Corp. (NYSE: ACIC), a special purpose acquisition company, today announced that they have entered into a definitive agreement for a business combination that would allow Archer to become a publicly traded company. Archer is expected to be listed on the New York Stock Exchange with the ticker symbol „ACHR“ after closing. 2021 has been a year of continued dynamism at Archer. In February, the company announced a strategic partnership with Stellantis to give Archer access to FCA`s low-cost supply chain, advanced composite capabilities, and engineering and design experience. He also announced a definitive agreement with United Airlines, the first of its kind for an eVTOL company, for $1 billion of Archer aircraft with an option for an additional $500 million in aircraft. Archer also announced two urban partnerships in Los Angeles and Miami, both of which will help these cities address some of the most pressing mobility and environmental challenges. Last month, Archer unveiled its first demonstration aircraft, Maker, live in Los Angeles and around the world for a live audience, which has racked up more than 38 million views to date. The information contained in this press release contains „forward-looking statements“ within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by the use of words such as „estimate“, „plan“, „project“, „anticipate“, „intend“, „want“, „continue“, „are likely to result“, „would“, „expect“, „anticipate“, „believe“, „seek“, „seek“, „seek“, „seek“, „aim“, „objective“, „strategy“, „future“, „opportunity“, „may“, „should“ or other similar expressions that predict or indicate future events or trends or that are not statements about historical facts. Forward-looking statements are predictions, forecasts and other statements about future events that are based on current expectations and assumptions and are therefore subject to risks and uncertainties. These forward-looking statements include, but are not limited to, statements regarding estimates and projections of financial and performance measures, projections of market opportunities, market share and timing, expectations and timing associated with commercial product launches, expectations regarding the potential proceeds of the transaction; Archer`s ability to enter into the business relationship with United and ultimately supply and sell aircraft to United under the agreements, Archer eVTOL`s ability to reduce carbon emissions, the potential benefits of the transaction and the potential success of Archer`s go-to-market strategy, as well as expectations regarding the terms and timing of the transaction. These statements are based on various assumptions, whether expressed in this press release or not, as well as the current expectations of Archer`s management and Atlas Crest, and are not predictions of actual performance. These forward-looking statements are provided for information purposes only and are not intended as warranties, assurances, predictions or definitive statements of fact or probability and should not be considered as such by an investor. Actual events and circumstances are difficult, if not impossible, to predict and deviate from assumptions. Many real events and circumstances are beyond the company`s control. .