Archer Aviation Inc. (ACHR) shares plummeted by 5.10% in the pre-market trading session on Tuesday. This pre-market plunge comes as the electric aircraft startup filed for an automatic mixed securities shelf offering.
In a regulatory filing, Archer Aviation disclosed that it plans to offer an indeterminate amount of securities, including common stock, preferred stock, debt securities, warrants, and units. The filing allows the company to periodically access the capital markets to raise funds through the sale of these securities over the next three years.
While the details and timing of any potential offerings are yet to be determined, the announcement of a potential share dilution has likely weighed on investor sentiment, leading to the pre-market sell-off in Archer Aviation's stock.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.