Stellantis Amends Archer Aviation Stake Filing
Ticker: ACHR-WT · Form: SC 13D/A · Filed: Jul 3, 2024 · CIK: 1824502
Sentiment: neutral
Topics: amendment, ownership-filing, aerospace
Related Tickers: ACHR
TL;DR
Stellantis filed an update on their Archer Aviation stake - still a big player in eVTOL.
AI Summary
Stellantis N.V. has amended its Schedule 13D filing regarding Archer Aviation Inc. as of July 3, 2024. This amendment, the eighth, indicates a change in the reporting of beneficial ownership. Stellantis previously held a significant stake and continues to be a major investor in Archer Aviation, a company focused on electric vertical takeoff and landing (eVTOL) aircraft.
Why It Matters
This filing update from Stellantis, a major automotive manufacturer, signals continued strategic interest and potential integration of advanced air mobility solutions into their future plans.
Risk Assessment
Risk Level: medium — The filing involves a large automotive conglomerate's stake in an emerging technology company, carrying inherent risks associated with technological adoption and market acceptance.
Key Players & Entities
- Stellantis N.V. (company) — Filing entity and major investor
- Archer Aviation Inc. (company) — Subject company
- FCA FOREIGN SALES HOLDCO LTD. (company) — Group member of Stellantis
- FCA NORTH AMERICA HOLDINGS LLC (company) — Group member of Stellantis
- FCA US LLC (company) — Group member of Stellantis
- SFS UK 1 LTD (company) — Group member of Stellantis
- STELLANTIS EUROPE S.P.A. (company) — Group member of Stellantis
- Atlas Crest Investment Corp. (company) — Former company name of Archer Aviation Inc.
- Fiat Chrysler Automobiles N.V. (company) — Former company name of Stellantis N.V.
- Fiat Investments N.V. (company) — Former company name of Stellantis N.V.
FAQ
What is the primary purpose of this SC 13D/A filing by Stellantis N.V.?
The filing is an amendment (Amendment No. 8) to Schedule 13D, indicating a change in the reporting of beneficial ownership of Archer Aviation Inc. by Stellantis N.V.
What is the subject company of this filing?
The subject company is Archer Aviation Inc., with Central Index Key 0001824502.
Who is the filing entity and what is their relationship to the subject company?
The filing entity is Stellantis N.V., Central Index Key 0001605484, which is a significant investor in Archer Aviation Inc.
When was this filing made and what is the 'as of' date?
The filing was made on 20240703, and the date as of change is also 20240703.
What were previous names of the filing entity or subject company mentioned in the filing?
Stellantis N.V. was formerly known as Fiat Chrysler Automobiles N.V. and Fiat Investments N.V. Archer Aviation Inc. was formerly known as Atlas Crest Investment Corp.
Filing Stats: 1,720 words · 7 min read · ~6 pages · Grade level 12.1 · Accepted 2024-07-03 16:41:05
Key Financial Figures
- $0.0001 — Name of Issuer) Class A Common Stock, $0.0001 par value per share (Title of Class of
- $4.84 — rage of a range of purchase prices from $4.84 to $4.97. (3) Represents the weighted
- $4.97 — range of purchase prices from $4.84 to $4.97. (3) Represents the weighted average o
- $5.01 — rage of a range of purchase prices from $5.01 to $5.33. On July 1, 2024, the Issuer
- $5.33 — range of purchase prices from $5.01 to $5.33. On July 1, 2024, the Issuer issued a
- $54,999,998.30 — ntis for an aggregate purchase price of $54,999,998.30 ($3.1607 per share). This transaction w
- $3.1607 — egate purchase price of $54,999,998.30 ($3.1607 per share). This transaction was consum
Filing Documents
- sc-13da07012024_stla.htm (SC 13D/A) — 126KB
- 0001605484-24-000098.txt ( ) — 129KB
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 March 31, 2024, as filed with the SEC on May 9, 2024, that there were 285,344,759 shares of Class A Common Stock of the Issuer outstanding as of May 3, 2024, and also take into account (i) the 17,401,153 shares of Class A Common Stock issued to Stellantis by the Issuer as described in Item 5(c) of this Amendment, (ii) the 1,671,202 shares of Class A Common Stock issuable upon exercise of the FCA US Warrant, (iii) the 1,077,024 shares of Class A Common Stock issuable upon exercise of the FCA Italy Warrant and (iv) the 5,000,000 shares of Class A Common Stock issuable upon exercise of Tranche 1 of the Stellantis Warrant. (c) The following table lists all open market transactions in Class A Common Stock that were effectuated subsequent to the transactions reported on Amendment No. 7, filed with the SEC on March 15, 2024. All transactions were effectuated through a broker. Trade Date PurchaseSale No. of Shares Price Per Share (1) 3152024 Purchase 9,500 4.9248 (2) 3152024 Purchase 740,500 5.1955 (3) (1) Weighted average purchase prices. The reporting person undertakes to provide to the Staff of the Securities and Exchange Commission, the Issuer or any stockholder of the Issuer, upon request, full information regarding the number of shares purchased at each separate price. (2) Represents the weighted average of a range of purchase prices from $4.84 to $4.97. (3) Represents the weighted average of a range of purchase prices from $5.01 to $5.33. On July 1, 2024, the Issuer issued and sold 17,401,153 shares of Class A Common Stock to Stellantis for an aggregate purchase price of $54,999,998.30 ($3.1607 per share). This transaction was consummated pursuant to the Forward Purchase Agreement (as defined in Item