Latest news with #AIROGroup

National Post
16-06-2025
- Business
- National Post
AIRO Announces Closing of Its Initial Public Offering and Full Exercise of Underwriters' Option to Purchase Additional Shares
Article content ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON — AIRO Group Holdings, Inc. ('AIRO'), a company specializing in advanced aerospace and defense technologies, today announced the closing of its initial public offering of 6,900,000 shares of its common stock, including the full exercise of the underwriters' option to purchase 900,000 additional shares, at a public offering price of $10.00 per share. All shares of common stock are being offered by AIRO. The gross proceeds to AIRO from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by AIRO, were $69.0 million. The shares began trading on the Nasdaq Global Market under the ticker symbol 'AIRO' on June 13, 2025. Article content AIRO currently intends to use the net proceeds it receives from this offering, together with its existing cash and restricted cash to support growth initiatives across each segment, repay debt and general corporate purposes. Article content Cantor, BTIG, and Mizuho acted as joint lead book-running managers for the proposed offering and Bancroft Capital acted as book-running manager for the proposed offering. Article content A registration statement relating to the offering of securities was declared effective by the U.S. Securities and Exchange Commission on June 12, 2025. The offering was made only by means of a final prospectus. Copies of the final prospectus relating to the offering may be obtained from: Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@ BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at prospectusdelivery@ and Mizuho Securities USA LLC, Attention: U.S. ECM Desk, 1271 Avenue of the Americas, New York, New York 10020, or by email at US-ECM@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Article content About AIRO Article content AIRO is a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. AIRO is organized into four operating segments, each of which represents a critical growth vector in the aerospace and defense market: Drones, Avionics, Training, and Electric Air Mobility. Article content Forward-Looking Statements Article content The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' 'seeks,' 'intends,' 'plans,' 'estimates,' or 'anticipates,' or similar expressions which concern our strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to the expected use of proceeds from the initial public offering. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. AIRO's expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. AIRO undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. Article content Article content Article content Article content


Globe and Mail
14-06-2025
- Business
- Globe and Mail
Drone Stock AIRO Group (AIRO) Skyrockets 128% in Market Debut
The stock of AIRO Group (AIRO) is up 128% after the drone maker made its market debut on the Nasdaq Composite (NDAQ) exchange in New York. Confident Investing Starts Here: AIRO Group is the latest defense-technology company to go public, and the company picked a good day to hold its initial public offering (IPO) with Israel and Iran firing missiles and drones at each other in an escalating military confrontation. Based in Chicago, AIRO Group sold six million shares at $10 each as part of its IPO, giving the company an initial market value of $260 million and making it a micro-cap stock defined as any security with a market capitalization of less than $1 billion. However, the shares rose as high as $22.83 at noon hour on June 13, skyrocketing 128% above the IPO price and lifting AIRO's market cap to $600 million. Good Timing AIRO Group makes both commercial and military drones, as well as robotics and avionics systems. The company's sales in 2024 totaled $87 million, a small amount but double the amount achieved in 2023. The company competes against other defense-technology companies such as AeroVironment (AVAV) and Kratos Space & Security Solutions (KTOS). While AIRO Group claims to have a diverse business, most of the company's revenue comes from its drone business. The company's AI-enabled Sky Watch drones are its most popular product and largely used for surveillance. Management at AIRO has said that they plan to use the money raised from the IPO to acquire additional drone technologies. AIRO Group held its IPO on a day when stocks of U.S. defense contractors such as Lockheed Martin (LMT) and RTX Corp. (RTX) are up about 5% each as military tensions in the Middle East escalate. Is AVAV Stock a Buy? It's too early for Wall Street to have ratings and price targets on AIRO Group stock. So instead we'll look at rival AeroVironment. The stock of AeroVironment has a consensus Strong Buy rating among six Wall Street analysts. That rating is based on six Buy recommendations issued in the last three months. The average AVAV price target of $203 implies 3.68% upside from current levels. Disclaimer & Disclosure Report an Issue


Associated Press
13-06-2025
- Business
- Associated Press
AIRO Announces Pricing of Its Initial Public Offering
ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON--(BUSINESS WIRE)--Jun 12, 2025-- AIRO Group Holdings, Inc. ('AIRO'), a company specializing in advanced aerospace and defense technologies, today announced the pricing of its initial public offering of 6,000,000 shares of its common stock at a public offering price of $10.00 per share. All shares of common stock are being offered by AIRO. The gross proceeds to AIRO from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by AIRO, are expected to be $60.0 million. AIRO has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares (solely to cover over-allotments, if any) of its common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the Nasdaq Global Market under the ticker symbol 'AIRO' on June 13, 2025, and the offering is expected to close on June 16, 2025, subject to the satisfaction of customary closing conditions. AIRO currently intends to use the net proceeds it receives from this offering, together with its existing cash and restricted cash to support growth initiatives across each segment, repay debt and general corporate purposes. Cantor, BTIG, and Mizuho are acting as joint lead book-running managers for the proposed offering and Bancroft Capital is acting as book-running manager for the proposed offering. A registration statement relating to the offering of securities was declared effective by the U.S. Securities and Exchange Commission on June 12, 2025. The offering is being made only by means of a final prospectus. When available, copies of the final prospectus relating to the offering may be obtained from: Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at [email protected]; BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at [email protected]; and Mizuho Securities USA LLC, Attention: U.S. ECM Desk, 1271 Avenue of the Americas, New York, New York 10020, or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About AIRO AIRO is a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. AIRO is organized into four operating segments, each of which represents a critical growth vector in the aerospace and defense market: Drones, Avionics, Training, and Electric Air Mobility. Forward-Looking Statements The statements contained in this press release that are not historical facts are forward-looking statements. You can identify forward-looking statements because they contain words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' 'seeks,' 'intends,' 'plans,' 'estimates,' or 'anticipates,' or similar expressions which concern our strategy, plans, projections or intentions. These forward-looking statements may be included throughout this press release, and include, but are not limited to, statements relating to AIRO's expected gross proceeds from the initial public offering, the expected use of proceeds from such initial public offering, the expected date for AIRO's common stock to begin trading on the Nasdaq Global Market and the expected closing of the initial public offering. By their nature, forward-looking statements are not statements of historical fact or guarantees of future performance and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. AIRO's expectations, beliefs and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will result or be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Any forward-looking statement in this press release speaks only as of the date of this release. AIRO undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. View source version on CONTACT: Dan Johnson AIRO Group Holdings, Inc. [email protected] KEYWORD: NORTH AMERICA UNITED STATES EUROPE DENMARK CANADA DISTRICT OF COLUMBIA NEW MEXICO INDUSTRY KEYWORD: TECHNOLOGY TRANSPORTATION AEROSPACE TRAVEL MANUFACTURING AUTOMOTIVE TRAINING AUTONOMOUS DRIVING/VEHICLES DRONES AIR DEFENSE TRANSPORT OTHER DEFENSE EDUCATION SOURCE: AIRO Group Holdings, Inc. Copyright Business Wire 2025. PUB: 06/12/2025 08:42 PM/DISC: 06/12/2025 08:40 PM