Archer Aviation’s $8 Million Vendor Share Filing Puts Cash Burn Back in Focus
Archer Aviation registered 3.27 million shares for resale and plans to issue up to $8 million in stock to vendors, according to a new SEC filing. The move comes days after Archer reported a first-quarter net loss of $217.7 million and revenue of $1.6 million. Shares fell about 4% to $6.13 in New York trading. Archer ended March with $1.78 billion in cash and short-term investments.