AirSculpt sets price for $12 million public stock offering

MIAMI BEACH, Fla. - AirSculpt Technologies, Inc. (NASDAQ:AIRS), a provider of premium body contouring procedures, has announced the pricing of its public offering at $3.80 per share, with the aim of raising $12.0 million before expenses. The offering price represents a significant discount to the current market price of $5.05 per share. According to InvestingPro data, the company has a market capitalization of approximately $297 million and maintains a "GOOD" overall financial health score. The company plans to close the offering on or about June 11, 2025, subject to customary closing conditions.

The offering includes 3,160,000 shares of common stock, and the underwriter has been granted a 30-day option to purchase up to an additional 474,000 shares at the same price. AirSculpt intends to allocate the majority of the net proceeds to pay down a portion of its outstanding debt under its existing credit agreement, which currently stands at $102.4 million. With a current ratio of 0.57, the company’s short-term obligations exceed its liquid assets, making debt management a priority. The remaining funds are earmarked for general corporate purposes, which may include working capital and exploring business opportunities.

Leerink Partners is serving as the sole bookrunner for the offering. The shares are being offered under a shelf registration statement that was filed with the Securities and Exchange Commission (SEC) and declared effective on March 24, 2025.

The company, known for its proprietary AirSculpt body contouring treatment, is navigating a competitive weight loss and obesity solutions market. The treatment is designed to provide precise results with quick healing and minimal bruising, available exclusively at AirSculpt offices. With annual revenue of $172.1 million and a gross profit margin of 63.8%, the company demonstrates strong pricing power despite recent challenges. InvestingPro analysis reveals 10+ additional insights about AIRS’s financial performance and market position, available to subscribers.

This press release contains forward-looking statements regarding the anticipated completion and use of proceeds from the offering. These statements are based on current expectations and projections about future events and are subject to risks, uncertainties, and assumptions, including market conditions and the satisfaction of customary closing conditions related to the offering.

Investors are advised that there are significant risks and uncertainties that could cause actual results to differ materially from projected results. These include, but are not limited to, market conditions, the company’s performance, and broader economic factors. According to InvestingPro data, analysts do not anticipate profitability this year, though three analysts have recently revised their earnings estimates upward. The company’s stock has shown significant volatility, with a beta of 2.51, and currently trades above its Fair Value estimate. The company cautions that the forward-looking statements are estimates as of the date they were made and are subject to change.

The information provided here is based on a press release statement and does not constitute an offer to sell or the solicitation of an offer to buy the common stock in any state or jurisdiction where such offer, solicitation, or sale would be unlawful.

In other recent news, AirSculpt Technologies reported a first-quarter revenue of $39.4 million, marking a 17.3% decline year-over-year. Despite this drop, the company exceeded earnings expectations with an EPS of -$0.02, compared to the forecasted -$0.0333. The company also announced a public offering of 3.16 million shares of common stock, with the option for the underwriter to purchase up to an additional 474,000 shares. Vesey Street Capital Partners, associated with two directors and the largest shareholder of AirSculpt, expressed a non-binding interest in acquiring up to $4.0 million worth of shares.

During its 2025 annual meeting, AirSculpt confirmed the election of two Class I directors and the ratification of Grant Thornton as the independent registered public accounting firm. The company is focusing on strategic initiatives, including workforce reductions and marketing reallocations, expected to save $3 million annually. Leerink Partners LLC is serving as the sole book-running manager for the recent stock offering. Looking ahead, AirSculpt has provided a revenue guidance of $160-170 million for 2025, with an adjusted EBITDA target of $16-18 million. The company aims to return to same-store sales growth by the end of the year.

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