TLDR
- Archer Aviation purchased Hawthorne Airport for $126 million to create an air taxi network hub near LAX.
- Cathie Wood’s ARK funds bought 3,012,500 shares valued at $28.8 million on November 6, 2025.
- The company secured $650 million in fresh equity, bringing total cash reserves above $2 billion.
- Test flights reached new records with a 55-mile range and 10,000-foot altitude in the Midnight aircraft.
- The Lilium patent purchase for €18 million expanded Archer’s intellectual property to 1,000+ patents.
Archer Aviation announced a transformative week with an airport acquisition and substantial institutional backing. The electric aircraft manufacturer landed deals that position it for commercial air taxi operations.
The company finalized agreements to buy Hawthorne Airport in Los Angeles for $126 million cash. The property spans 80 acres and includes 190,000 square feet of facilities. Located under three miles from LAX, the airport provides strategic access to major LA venues.
Cathie Wood’s ARK funds purchased over 3 million shares the same day. The $28.8 million investment signals confidence in Archer’s growth trajectory. The purchase came as the company released third quarter results.
Hawthorne Airport will serve as Archer’s operational base for LA air taxi services. The company expects the facility to support transportation during the LA28 Olympics. The site will also test AI-powered aviation systems being developed with airline partners.
The historic airport dates back to the 1920s when it was called Jack Northrop Field. Its proximity to SoFi Stadium, The Forum, Intuit Dome and Downtown LA makes it ideal for urban air mobility.
Strong Financial Position After Capital Raise
Archer raised $650 million in new equity during the quarter. The funding round pushed total liquidity past $2 billion. This financial cushion gives the company resources to scale operations.
Moelis & Company led the placement while Cantor Fitzgerald served as joint agent. Moelis also advised on the airport transaction.
United Airlines remains a key supporter through United Airlines Ventures. CFO Michael Leskinen emphasized the airline’s belief in eVTOL technology as the next generation of air traffic solutions.
The company completed its Lilium patent portfolio purchase for €18 million. The acquisition added 300 patents covering critical technologies. These include ducted fans, high-voltage systems and flight controls. Archer’s total patent holdings now exceed 1,000 assets globally.
Midnight Aircraft Achieves Key Milestones
Test flights produced record results during the quarter. The Midnight aircraft flew 55 miles in 31 minutes, reaching speeds over 126 mph. A separate test reached 10,000 feet altitude.
The aircraft flew demonstrations at the California International Airshow. Spectators observed the quiet operation that differentiates electric aircraft from traditional helicopters.
Operations expanded to Abu Dhabi with test flights beginning this summer. Archer is now collecting payments for its UAE Launch Edition program activities. Regulatory approval processes continue for commercial passenger service.
International partnerships grew in the Asia-Pacific region. Korean Air designated Archer as its exclusive air taxi partner in South Korea. Japan Airlines and Sumitomo’s joint venture Soracle selected Archer for operations in Osaka and Tokyo.
The company continues advancing the Midnight aircraft toward commercial readiness. Each flight test validates performance capabilities and builds toward certification milestones.
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