Airship AI to raise $9.7 million from warrant exercise

REDMOND, Wash. - Airship AI Holdings, Inc. (NASDAQ:AISP), a $194 million market cap technology company whose stock has surged nearly 193% over the past year, announced Thursday it has entered a definitive agreement for the immediate exercise of outstanding warrants that will raise approximately $9.7 million for the company.

The AI-driven surveillance solutions provider said holders of warrants issued in December 2024 will exercise their right to purchase 2,162,162 shares at the existing price of $4.50 per share.

In exchange for the immediate cash exercise, the company will issue new warrants to these holders in a private placement. The new warrants will allow for the purchase of up to 2,702,702 shares at $6.20 per share, exercisable immediately with a 5.5-year term.

The transaction is expected to close on or about Friday, subject to customary closing conditions. Roth Capital Partners is serving as financial advisor for the transaction.

The shares issuable under the original warrants are already registered under an effective S-3 registration statement. The company has committed to file a resale registration statement within 20 days of closing to register the shares underlying the new warrants.

Airship AI provides AI-driven video, sensor, and data management surveillance platforms for public sector and commercial customers. The company’s product offerings include edge hardware and software, enterprise management software, and visualization tools. With annual revenue of $13.7 million and a "Fair" financial health score according to InvestingPro, the company operates with moderate debt levels while working toward profitability.

The announcement was made in a press release statement issued by the company. Analysts maintain a bullish outlook on AISP with a price target of $11 per share. InvestingPro subscribers can access 5 additional key insights and detailed financial metrics to better evaluate this emerging AI player.

In other recent news, Airship AI Holdings Inc. has announced the award of 16 individual contracts from the Department of Justice and Department of Homeland Security. These contracts will utilize Airship AI’s AI-driven video, sensor, and data management surveillance solutions to support public safety and investigative needs for federal agencies. This development marks a notable expansion of Airship AI’s presence in the government sector. Additionally, Airship AI Holdings has updated its Audit Committee, Compensation Committee, and Nominations and Corporate Governance Committee charters. The updates were approved by the board of directors following a periodic review of these documents, which were initially adopted on January 2, 2024. The revised charters are now included as exhibits in the company’s latest filing with the Securities and Exchange Commission and are available on the company’s website. These developments reflect Airship AI’s ongoing efforts to strengthen its governance framework and expand its market reach.

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