FutureFlight On The Radar
SEC Filing Spells Out the Basis for Archer's $1.1 Billion Merger with Atlas SPAC
S-4 form filed a month after the deal's announcement gives clues regarding the valuation of the eVTOL aircraft developer.

Atlas Crest Investment Corp. has filed an S-4 registration form with the U.S. Securities and Exchange Commission, spelling out details of its merger with eVTOL aircraft developer Archer Aviation. The March 8 filing came almost a month after Archer and the special purpose acquisition company (SPAC) announced plans for a $1.1 billion share flotation.

The document provides an interesting snapshot as to how SPAC-backed flotations, which are set to be a funding trend in the advanced air mobility sector, are structured. Though the process is somewhat hard to follow without guidance from a corporate attorney, the bottom line is that Atlas must seek approval from shareholders for the merger, which is due to be completed in the second quarter of 2021.