S-1 Filing

ARCHER AVIATION INC. CIK: 1824502

Filing Information

Form Type	S-1
Accession Number	`0001104659-21-124237`
Period End Date	20210630
Filing Date	20211007
Fiscal Year	N/A
Fiscal Period	N/A
XBRL Instance	achr-20211006xs1_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 43 Income Statement 21 Cash Flow Statement 42 Stockholders Equity 17 Comprehensive Income 7

Balance Sheet 43 line items

Line Item	Tag	Value	Unit	Period
Cash	`Cash`	$925.92K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$464.00K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$251.63K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$549.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.39M	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$500.10M	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$500.14M	USD	Point-in-time
Redeemable convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$500.77M	USD	Point-in-time
Redeemable convertible preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total assets	`Assets`	$501.49M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.99K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$77.62K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$7.38M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$48.02K	USD	Point-in-time
Franchise tax payable	`FranchiseTaxPayableCurrent`	$69.94K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$128.96K	USD	Point-in-time
Warrant liabilities	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$37.57M	USD	Point-in-time
Warrant liabilities	`SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares`	$47.51M	USD	Point-in-time
Total liabilities	`Liabilities`	$37.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$47.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$46.08M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable convertible preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Redeemable convertible preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$15.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-45.48M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-788.44K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-10.85M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	-	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-48.72M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-45.46M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock, and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$500.77M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock, and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$501.49M	USD	Point-in-time

Income Statement 21 line items

Line Item	Tag	Value	Unit	Period
Operating and formation costs	`CostsAndExpenses`	$8.49M	USD	2 Qtrs
Operating and formation costs	`CostsAndExpenses`	$3.76M	USD	1 Quarter
Operating and formation costs	`CostsAndExpenses`	$159.95K	USD	1 Quarter
Franchise tax expense	`FranchiseTaxExpense`	$100.21K	USD	2 Qtrs
Franchise tax expense	`FranchiseTaxExpense`	$49.73K	USD	1 Quarter
Franchise tax expense	`FranchiseTaxExpense`	$69.94K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-229.89K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.59M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.81M	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$5.00K	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$135.03K	USD	2 Qtrs
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$98.58K	USD	1 Quarter
Loss on sale of private placement warrants	`LossFromSaleOfPrivatePlacementWarrants`	$240.00K	USD	1 Quarter
Expensed offering costs	`ExpensedOfferingCostsOnIssuanceOfPublicWarrants`	$545.87K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-9.28M	USD	2 Qtrs
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-7.05M	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$9.93M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-2.42M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-10.85M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$833.80K	USD	2 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$3.25M	USD	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-10.85M	USD	1 Quarter
Net loss	`ProfitLoss`	$833.80K	USD	2 Qtrs
Expensed offering costs on issuance of Public Warrants	`ExpensedOfferingCostsOnIssuanceOfPublicWarrants`	$545.87K	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$5.00K	USD	1 Quarter
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$135.03K	USD	2 Qtrs
Unrealized gain on investments held in Trust Account	`UnrealizedGainLossOnInvestments`	$98.58K	USD	1 Quarter
Loss on sale of private placement warrants	`LossFromSaleOfPrivatePlacementWarrants`	$240.00K	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-9.28M	USD	2 Qtrs
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$-7.05M	USD	1 Quarter
Change in fair value of warrant liabilities	`FairValueAdjustmentOfWarrants`	$9.93M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$464.00K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-133.80K	USD	2 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$10.99K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$66.63K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$7.33M	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$48.02K	USD	1 Quarter
Franchise tax payable	`IncreaseDecreaseInFranchiseTaxPayable`	$69.94K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.03M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-564.93K	USD	1 Quarter
Cash deposited in Trust Account	`InvestmentOfCashIntoTrustAccount`	$500.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-500.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$99.23K	USD	2 Qtrs
Proceeds from issuance of Class B common stock to Sponsor	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	1 Quarter
Proceeds from issuance of promissory note	`ProceedsFromIssuanceOfPromissoryNoteRelatedParty`	$300.00K	USD	1 Quarter
Repayment of promissory note	`RepaymentOfOutstandingPromissoryNote`	$300.00K	USD	1 Quarter
Proceeds from initial public offering, net of underwriter's discount paid	`ProceedsFromIssuanceInitialPublicOffering`	$490.00M	USD	1 Quarter
Proceeds from sale of private placement warrants	`ProceedsFromIssuanceOfPrivatePlacement`	$12.00M	USD	1 Quarter
Payment of offering costs	`PaymentsOfStockIssuanceCosts`	$534.14K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$300.00K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$501.49M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$925.92K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-628.55K	USD	2 Qtrs
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$297.38K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$925.92K	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$925.92K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$297.38K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$925.92K	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$925.92K	USD	Point-in-time
Class A common stock subject to possible redemption	`ValueOfCommonStockSubjectToPossibleRedemption`	$448.85M	USD	1 Quarter
Class A common stock subject to possible redemption	`ValueOfCommonStockSubjectToPossibleRedemption`	$-51.29M	USD	2 Qtrs
Initial classification of warrant liabilities	`InitialClassificationOfWarrantLiabilities`	$37.57M	USD	1 Quarter
Forfeiture of Class B common stock	`ForfeitureOfOrdinarySharesIncurredAsPartOfNoncashOrPartialNoncashTransaction`	$188.00	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance as of beginning of period	`StockholdersEquity`	-	USD	Point-in-time
Balance as of beginning of period	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance as of beginning of period	`StockholdersEquity`	$-48.72M	USD	Point-in-time
Balance as of beginning of period	`StockholdersEquity`	$-45.46M	USD	Point-in-time
Issuance of Class B common stock to Sponsor	`StockIssuedDuringPeriodValueNewIssues`	$25.00K	USD	1 Quarter
Sale of 50,000,000 units in Initial Public Offering, less fair value of public warrants, net of offering costs, as restated	`StockIssuedDuringPeriodValueNewIssuesLessFairValueOfPublicWarrantsNetOfOfferingCost`	$464.68M	USD	1 Quarter
Class A common stock subject to possible redemption, as restated	`CommonStockSubjectToPossibleRedemptionValue`	$-14.34K	USD	1 Quarter
Class A common stock subject to possible redemption, as restated	`CommonStockSubjectToPossibleRedemptionValue`	$51.30M	USD	1 Quarter
Class A common stock subject to possible redemption, as restated	`CommonStockSubjectToPossibleRedemptionValue`	$448.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.42M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-10.85M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$833.80K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$3.25M	USD	1 Quarter
Balance as of end of period	`StockholdersEquity`	-	USD	Point-in-time
Balance as of end of period	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance as of end of period	`StockholdersEquity`	$-48.72M	USD	Point-in-time
Balance as of end of period	`StockholdersEquity`	$-45.46M	USD	Point-in-time

Comprehensive Income 7 line items

Line Item	Tag	Value	Unit	Period
Loss from operations	`OperatingIncomeLoss`	$-229.89K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-8.59M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.81M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-2.42M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$-10.85M	USD	1 Quarter
Net loss and comprehensive loss	`NetIncomeLoss`	$833.80K	USD	2 Qtrs
Net loss and comprehensive loss	`NetIncomeLoss`	$3.25M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.