AIRO Announces Pricing of Its Initial Public Offering
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 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.
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 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.
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 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 prospectus@cantor.com; BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at prospectusdelivery@btig.com; 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@mizuhogroup.com.
Article content
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 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.
Article content
Article content
Article content
Article content
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
43 minutes ago
- CBC
Canada to join major European rearmament deal as early as June 23: sources
Social Sharing Prime Minister Mark Carney plans on joining a sweeping European plan in Belgium this month to rearm the continent and provide more military aid to Ukraine, CBC News has learned. Last month, Carney signalled to CBC's Power & Politics that he hopes to sign on to the new defence initiative by Canada Day as he tries to move away from relying on the United States for weapons and munitions. Now sources with knowledge of the matter say Carney is expected to join the rearmament deal as early as June 23, when he meets with European leaders in Brussels at the EU-Canada summit. Carney hinted on Monday this summit will "be more important than ever." "Canada will arrive at this summit with a plan to lead, with new investments to build our strength in service of our values," Carney said. WATCH | Why ReArm Europe would want Canada: Why Europe would consider inviting Canada into a defence pact 3 months ago Duration 5:07 With the Western Alliance eroding under U.S. President Donald Trump, could Canada's defence support shift to Europe? As CBC's Evan Dyer explains, the country's understrength military doesn't offer much in the way of troops presence, but it does have other things Europe needs. The prime minister has said he's been in talks with European countries for months about closer defence co-operation. Carney wants to build up Canada's defence capabilities and expand its military suppliers beyond the U.S. as President Donald Trump wages a trade war on Canada and most of the world. "Over 75 cents on every dollar of capital spending for defence goes to the United States. That's not smart," Carney told Power & Politics host David Cochrane on May 27. Carney said it would be better to "spend more at home" with "diversified partnerships." CBC News is not naming the sources because they were not authorized to speak publicly about the deal. European Union President Ursula von der Leyen first proposed the plan called ReArm Europe in March to bolster the continent's military capabilities during global threats, Russia's ongoing invasion in Ukraine and uncertainty with the United States. 'The first step is joining the club' The plan, renamed Readiness 2030, includes boosting European defence spending by up to 800 billion euros, including a 150-billion euro loan program to pay for more military technology and weapons. It's unclear how much money Canada would contribute. Carney announced more than $9 billion in new military spending this fiscal year on Monday — and said Canada must further increase defence spending in the years to come. Once Canada joins the European deal, the government will have to decide what initiative it wants to launch and which countries it will partner with. The list of potential projects includes air and missile defence, drones and anti-drone systems, artificial intelligence and electronic warfare. "The first step is joining the club. The next step is deciding what projects you want to work on with other club members," said Dave Perry, president of the Canadian Global Affairs Institute. Support for Ukraine Ahead of the EU-Canada summit, Carney is also expected to announce more support for Ukraine. As part of Carney's promise to increase defence spending this year, supplementary estimates this week show the government has earmarked $2 billion for military aid to Ukraine and to expand defence partnerships. A source told CBC News the government is expected to reveal how much of that money will go toward Ukraine at the G7 meeting in in Kananaskis, Alta., next week. Carney is hosting this year's summit and invited Ukrainian president Volodymyr Zelenskyy, who hopes to urge Trump to move forward with a stronger sanctions package on Russia. WATCH | Carney says Canada will hit 2% NATO spending target by March: Canada will hit 2% NATO spending target by March: Carney 4 days ago Duration 2:46 Canada will hit NATO's two per cent defence spending target this year, Prime Minister Mark Carney announced Monday, promising billions in military upgrades. Three years into Russia's full-scale invasion of Ukraine, it continues to push forward in the Donbas region where Ukrainians are progressively losing "more and more" territory, Perry said. Ukraine needs armoured vehicles, artillery systems, ground-based air defence systems and munitions, he said. "They need help repairing all of the critical infrastructure the Russians are going after," he said. "They need the funding to basically keep the government of Ukraine solvent … they need a whole range of things."
Globe and Mail
2 hours ago
- Globe and Mail
Why Chewy Stock Was Diving This Week
A badly received quarterly earnings report was the major news item exerting gravity on Chewy (NYSE: CHWY) stock over the past few days. As a result, according to data compiled by S&P Global Market Intelligence, the company's share price had slumped by almost 15% week-to-date as of Thursday evening. Investors didn't like the latest milk bone That sell-off happened even though Chewy actually topped analyst estimates for revenue and profitability, albeit not by vast amounts. In its first quarter, the company managed to grow its net sales by more than 8% year over year to $3.1 billion, while its non- GAAP (adjusted) net income improved at a slightly higher rate to just under $149 million ($0.35 per share). Analysts had collectively been modeling a bit below $3.1 billion on the top line and $0.32 per share for adjusted profitability. While those aren't bad numbers at first glance, Chewy is an expensive stock to own; even after the post-earnings sell-off it was trading at a rich forward P/E of almost 36. For more than a few investors, that's awfully pricey for a company posting single-digit percentage improvements, and at thin profit margins to boot. Tepid reactions Meanwhile, as analysts tracking a stock often do, several pundits following Chewy adjusted their takes on the stock. Most of these adjusters raised their price targets, but there were several less bullish updates, too. One was published by Mizuho 's David Bellinger, who now feels Chewy is worth $44 per share, down from his previous $47. He maintained his neutral recommendation on the stock. It's hard to ignore how pricey this stock is at the moment, and to some degree that's a shame. Chewy has been posting good results from its Autoship program lately, a feature that still has plenty of potential to boost valuable recurring revenue. I'm not necessarily hot on this stock, but there might be some upside to it if it can post more convincing quarterly earnings beats. Should you invest $1,000 in Chewy right now? Before you buy stock in Chewy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Chewy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $655,255!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $888,780!* Now, it's worth noting Stock Advisor 's total average return is999% — a market-crushing outperformance compared to174%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 9, 2025
CTV News
7 hours ago
- CTV News
J.C. Flowers-backed Jefferson Capital eyes US$1.1B valuation in US IPO
The Nasdaq MarketSite in New York's Times Square, on May 16, 2012. (AP / Richard Drew) Private equity-backed Jefferson Capital said on Friday it was targeting a valuation of up to $1.1 billion in its U.S. initial public offering, as buyout firms look to take advantage of an improving new listings market. The company, and some of its investors, are seeking to raise up to $170 million by offering 10 million shares priced between $15 and $17 each, in what would be a rare flotation from the debt buyer industry. Mounting pressure on financial sponsors to return money to investors is encouraging buyout firms to list their portfolio companies. A winning streak for latest U.S. stock market entrants has also boosted the IPO market, particularly for tariff-insulated companies. Jefferson is offering 625,000 shares in the IPO, while selling stockholders, including J.C. Flowers, are putting up about 9.4 million shares. Founded in 2002, the Minneapolis, Minn.-based company purchases and manages charged-off and bankruptcy receivables with operations mainly in the U.S., Canada, the U.K. and Latin America. It expanded into Canada with the acquisition of debt buyer Canaccede Financial Group in 2020. The company had net income of $128.9 million and revenue of $433.3 million in 2024, up 15.6 and 34.1 per cent, respectively, over the year earlier. Jefferson competes against PRA Group, Encore Capital Group, Resurgent Capital Services and Cavalry Portfolio Services in its core U.S. market. Investment firm J.C. Flowers had acquired Jefferson from buyout firm Flexpoint Ford in 2018. Jefferson will list on the Nasdaq under the symbol JCAP. Jefferies and Keefe, Bruyette & Woods are the lead underwriters for the offering. J.C. Flowers will own about 68.9 per cent of Jefferson after the offering. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)
