Archer Aviation Acquires Wisk Aero and SkyGrid from Boeing in $200M Deal

Archer Aviation has entered into a definitive agreement to acquire Wisk Aero, SkyGrid, Insitu, and related entities from Boeing. The deal includes Class A shares equal to 19.75% of Archer's pre-close shares, subject to cash adjustments, as well as two warrants totaling $200 million notional with strikes of $13.00 and $17.88.

The agreement also features a 12-month lock-up for Boeing, a 19.9% beneficial ownership cap on exercises, and customary closing conditions with an outside date of May 9, 2027. Additionally, the deal includes related agreements such as registration rights, a governance side letter with a board designee, an IP cross-license, a transition services framework, a forward equity purchase option of up to $55 million, and post-close restrictive covenants.

The acquisition aims to integrate autonomous aviation and UAS capabilities. Archer Aviation's stock price may be affected by the deal, which is subject to regulatory approvals and customary closing conditions.