Stellantis Amends Archer Aviation Stake (Amendment No. 5)
Ticker: ACHR-WT · Form: SC 13D/A · Filed: Jan 10, 2024 · CIK: 1824502
| Field | Detail |
|---|---|
| Company | Archer Aviation INC. (ACHR-WT) |
| Form Type | SC 13D/A |
| Filed Date | Jan 10, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: insider-ownership, amendment, strategic-partnership
TL;DR
**Stellantis updated its Archer Aviation stake, signaling a potential shift in their partnership.**
AI Summary
Stellantis N.V. filed an amended Schedule 13D/A on January 10, 2024, indicating a change in their beneficial ownership of Archer Aviation Inc. Class A Common Stock. The filing, Amendment No. 5, specifies that the event triggering this update occurred on January 3, 2024. This matters to investors because Stellantis is a major strategic partner for Archer, and changes in their ownership stake can signal shifts in their commitment or outlook on Archer's future, potentially influencing market perception and stock valuation.
Why It Matters
This filing updates Stellantis's reported beneficial ownership in Archer Aviation, which can signal changes in a key strategic partner's investment thesis or level of involvement.
Risk Assessment
Risk Level: medium — Changes in a major strategic investor's stake can introduce uncertainty about the future of the partnership and the company's funding or strategic direction.
Analyst Insight
Investors should monitor subsequent filings from Stellantis (e.g., further 13D/A amendments or 13G filings) and Archer Aviation's investor relations for more details on the nature of this change in beneficial ownership, as it could impact future strategic collaborations or funding.
Key Players & Entities
- Stellantis N.V. (company) — the filing person and a major investor in Archer Aviation Inc.
- Archer Aviation Inc. (company) — the subject company whose Class A Common Stock is being reported on
- Giorgio Fossati (person) — person authorized to receive notices and communications for Stellantis N.V.
- January 3, 2024 (date) — the date of the event which required the filing of this statement
- January 10, 2024 (date) — the filing date of the SC 13D/A
- $0.0001 (dollar_amount) — par value per share of Archer Aviation Inc. Class A Common Stock
FAQ
What type of filing is this document?
This document is an SC 13D/A, specifically Amendment No. 5, filed under the Securities Exchange Act of 1934.
Who is the filer of this SC 13D/A?
The filer of this SC 13D/A is Stellantis N.V., with its business address at Taurusavenue 1, Hoofddorp, The Netherlands.
What is the subject company of this filing?
The subject company is Archer Aviation Inc., located at 190 West Tasman Drive, San Jose, CA 95134.
What is the specific date of the event that triggered this filing?
The date of the event which required the filing of this statement was January 3, 2024.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the Class A Common Stock, $0.0001 par value per share, of Archer Aviation Inc. is 03945R 102.
Filing Stats: 1,544 words · 6 min read · ~5 pages · Grade level 13.4 · Accepted 2024-01-10 16:06:54
Key Financial Figures
- $0.0001 — Name of Issuer) Class A Common Stock, $0.0001 par value per share (Title of Class of
- $0.01 — e to Stellantis at an exercise price of $0.01per share. (d) Pursuant to the Forward
Filing Documents
- sc-13da01102024_stla.htm (SC 13D/A) — 121KB
- 0001605484-24-000002.txt ( ) — 123KB
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer (a) and (b) See Items 7-13 of the cover pages and Item 3 above. The percentage calculations herein are based upon the statement in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023, as filed with the SEC on November 9, 2023, that there were 254,266,961 shares of Class A Common Stock of the Issuer outstanding as of November 6, 2023, and also take into account (i) the 1,671,202 shares of Class A Common Stock issuable upon exercise of the FCA US Warrant, (ii) the 1,077,024 shares of Class A Common Stock issuable upon exercise of the FCA Italy Warrant and (iii) the 5,000,000 shares of Class A Common Stock issuable upon exercise of Tranche 1 of the Stellantis Warrant. (c) On January 3, 2024, Tranche 1 of the Stellantis Warrant became vested and exercisable. Upon exercise of Tranche 1 of the Stellantis Warrant, 5,000,000 shares of Class A Common Stock are issuable to Stellantis at an exercise price of $0.01per share. (d) Pursuant to the Forward Purchase Agreement, so long as Stellantis or its affiliates beneficially own Class A Common Stock equal to at least 12.5% of the Issuer's outstanding Class A Common Stock, it will have the right to nominate one individual for election to the Board as a Class II director at the Issuer's annual meeting of stockholders to occur in 2026 through the date of the Issuer's annual meeting of stockholders in 2029. Thus, so long as Stellantis' designated director remains on the Issuer's board, such director will participate in any board decisions regarding the receipt of dividends from, or the proceeds from the sale of, the Issuer's Common Stock. (e) Not applicable. CUSIP No. 03945R 102 SCHEDULE 13DA Page 9 of 9 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date January 10, 2024 STELLANTIS N.V. By s Giorgi