Archer Aviation Inc. (NYSE:ACHR) agreed to acquire Hawthorne Municipal Airport from City of Hawthorne, California for approximately $160 million on November 5, 2025. The consideration includes $126 million payable in cash upon closing, Archer Aviation has agreed to assume Seller?s outstanding loan with a principal amount of approximately $16.0 million that currently bears interest at a rate of 6.3 % per annum. Pursuant to the Hawthorne Airport Acquisition Initial Closing, certain Seller employees and 395 will be entitled to receive an aggregate of $21.4 million in earn-out shares of the Company?s Class A Common Stock that will become earned and issuable upon achievement of certain designated performance milestones intended to be achieved in the three years following the closing.

The transaction is expected to close by the end of 2025.

Fenwick & West LLP is acting as legal advisor and Moelis & Company LLC as financial advisor for Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation Inc. (NYSE:ACHR) completed the acquisition of Hawthorne Municipal Airport from City of Hawthorne, California on December 8, 2025.