AIRO Group soars in Nasdaq debut after $60 million IPO

AIRO group

13/06/2025 16:20

Updates

** Aerospace and defense company AIRO Group's AIRO.O shares jump as much as 81.5% to $18.15 in their Nasdaq debut

** Stock opens at $12.90 vs $10 IPO price; halted for volatility

** AIRO late on Thursday sold 6 million shares 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;))