State Street (NYSE: STT) holds 5% of Archer Aviation (ACHR) stock
Rhea-AI Filing Summary
State Street Corporation filed a Schedule 13G reporting a passive ownership stake in Archer Aviation Inc. common stock. State Street reports beneficial ownership of 32,773,136 shares, representing 5% of the class as of the event date.
The firm has shared voting power over 31,028,584 shares and shared dispositive power over 32,773,136 shares, with no sole voting or dispositive power. State Street certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Archer Aviation.
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FAQ
What ownership stake does State Street report in Archer Aviation (ACHR)?
State Street Corporation reports beneficial ownership of 32,773,136 shares of Archer Aviation common stock, representing 5% of the class. This makes State Street a significant institutional holder under Schedule 13G rules, triggering the requirement to disclose its passive ownership position.
Is State Street’s Archer Aviation stake intended to influence control of the company ACHR?
State Street certifies the Archer Aviation securities were acquired and are held in the ordinary course of business, not to change or influence control. The filing states they are not held in connection with any transaction intended to affect control of the issuer.
Which State Street subsidiaries are associated with the Archer Aviation holdings?
The filing identifies several State Street Global Advisors entities, including SSGA Funds Management, Inc. and multiple State Street Global Advisors companies, as relevant subsidiaries. These entities are classified as investment advisers involved in managing the Archer Aviation holdings.
Why did State Street file a Schedule 13G for Archer Aviation (ACHR)?
State Street filed Schedule 13G because its beneficial ownership in Archer Aviation common stock reached 5% of the class. Schedule 13G is used by qualifying institutional investors to disclose significant, generally passive, holdings without indicating an activist or control-seeking intent.