AIRO launches public offering of 3.5 million common shares

AIRO Group Holdings, Inc. (NASDAQ: AIRO) announced the commencement of an underwritten public offering of 3.5 million shares of common stock. The aerospace and defense technology company has granted underwriters a 30-day option to purchase up to an additional 525,000 shares to cover over-allotments.

The company plans to use net proceeds primarily to fund growth initiatives and pursue acquisitions of complementary businesses, products, services or technologies. AIRO also intends to repurchase 815,000 shares of common stock held by certain stockholders at the public offering price, less underwriting discounts and commissions.

If underwriters exercise their option to purchase additional shares, AIRO will use a portion of proceeds to repurchase up to an additional 301,312 shares from existing stockholders. Remaining proceeds will support general corporate purposes, including working capital and operational needs.

Cantor serves as the lead book-running manager for the offering. The company has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission, though it has not yet become effective.

AIRO operates four business segments: Drones, Avionics, Training, and Electric Air Mobility. The company's common stock trades on the Nasdaq Global Market under the ticker symbol AIRO.

The offering will be conducted only by means of a prospectus once the registration statement becomes effective, according to the company's statement.

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