** Shares of air taxi maker Archer Aviation ACHR.N fall 14% to $7.65 after co announces stock sale worth $650 mln

** Co intends to use $171 million of the net proceeds for acquisition and redevelopment of Hawthorne Airport in Los Angeles

** Co prices shares at $8, representing a discount of 11% to its last close of $8.88

** "We're more bullish than bearish on ACHR's LA airport acquisition, with ACHR now better positioned to push the air taxi industry forward," Needham analysts say in a note

** Brokerage H.C Wainwright says that since co does not intend to pursue any additional deals of a similar nature, the bolstered balance sheet will not be burdened by these types of transactions going forward

** Separately, co says it incurs no revenue in Q3, reports net loss of 20 cents per share

** Up to last close, stock down 8.92% YTD

(Reporting by Avinash P in Bengaluru)

((Avinash.P@thomsonreuters.com;))