AIRO rebounds after upsized equity offering

AIRO group

11/09/2025 15:07

** Shares of aerospace and defense technologies firm AIRO Group AIRO.O up 3.6% at $20.11 early Thurs after follow-on offering priced just three months after co went public

      ** Albuquerque, New Mexico-based firm late Weds sold 4.2 mln shares at $18.50 for $77.7 mln gross proceeds

    ** Offering priced at 4.7% discount to stock's last close

    ** AIRO shares on Mon closed at $20.50 and co commenced 3.5 mln share offering

    ** It intends to use net offering proceeds primarily to fund growth initiatives and potential acquisitions, and to
    repurchase 978,000 shares from certain stockholders

    ** Cantor is lead bookrunner for the offering, along with BTIG, Mizuho and Bancroft Capital

    ** On Jun 13, AIRO shares closed at $24 in their first day of trading after IPO of 6 mln shares priced at $10

** Co's business is organized into four segments: drones, avionics, military training and electric air mobility

** As of Aug 13, co had ~27.4 mln shares outstanding, according to its filing

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))