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Cooley, Kirkland Pilot SPAC Merger For $3.8B Air Taxi Startup
Law360 (February 10, 2021, 11:25 AM EST) Air taxi startup Archer Aviation, advised by Cooley, will go public at a $3.8 billion valuation by merging with a special purpose acquisition company represented by Kirkland & Ellis, the companies said Wednesday, the same day United Airlines announced a partnership with Archer.
The deal sees Palo Alto, California-based Archer merging with Atlas Crest Acquisition Corp., a SPAC backed by investment bank Moelis & Co., according to a statement. Archer, formed in 2018, is developing what it says is the world s first commercially viable all-electric [urban air mobility] platform. As a result of the transaction, Archer will become publicly listed on.