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Boeing announced on August 10th its plan to sell three of its businesses to Archer Aviation, and upon completion of the transaction, it will hold nearly a 20% stake in Archer.
The businesses Boeing plans to sell include electric vertical takeoff and landing (eVTOL) aircraft manufacturer Wisk, drone maker Insitu, and air traffic software company SkyGrid. As consideration for the transaction, Boeing will receive newly issued shares and warrants from Archer Aviation and has agreed to make a $55 million equity investment in Archer. Additionally, Boeing will retain the right to use Wisk's autonomous flight technology.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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