Atlas Crest Investment (ACIC) is a special purpose acquisition company (SPAC) that brings private businesses public.
Unlike an initial public offering (IPO), SPACs help firms go public by merging them into their operations.
And, earlier this year, ACIC agreed to help take electric aviation startup Archer public, creating a company with a combined value of $3.8 billion.
This is a fairly significant deal, as Archer is working to develop new, sustainable flight-technologies that are 100% battery powered.
The firm also has some serious backing…
Following the announcement of the merger, United Airlines (UAL) revealed that it made a $1 billion order for the firm’s all-electric vertical take-off and landing aircraft called the “Maker.”
You can see the aircraft above at a recent June demonstration with the company’s two co-founders, Brett Adcock and Adam Goldstein.
The company’s mission is to reduce traffic while providing customers safe and fast travel (up to 150 MPH) for the price of an Uber by renting their Makers out as air taxis. Sales of individual vehicles will follow.
Archer’s deal with United Airlines is expected to be completed sometime in the next few weeks. And once it is, the combined company will take on Archer’s name and list on the New York Stock Exchange (NYSE) under the symbol “ACHR.”
Investors who jump on this opportunity could very well be poised for some solid gains in the months and years ahead.
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