AIRO Group set for Nasdaq debut after $60 million IPO

AIRO group

13/06/2025 15:30

** Aerospace and defense company AIRO Group AIRO.O set for Nasdaq debut on Friday under symbol "AIRO"

** AIRO late on Thursday sold 6 million shares at $10 apiece for gross proceeds of $60 million

** Albuquerque, New Mexico-based AIRO had earlier marketed 5 million shares priced between $14 and $16 apiece

** Cantor, BTIG, and Mizuho were the joint lead book-running managers for the offering

** AIRO plans to use the proceeds to repay debt, grow its business, and other purposes

** IPO comes after AIRO's previous attempt to go public through an $847 million blank-check deal was scrapped last year

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))