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Airship AI Announces Closing of $8.0 Million Public Offering - Airship AI Holdings (NASDAQ:AISP)
REDMOND, Wash., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Airship AI Holdings, Inc. AISP ("Airship AI" or the "Company"), a leader in AI-driven video, sensor, and data management surveillance solutions, announced the closing of its previously announced public offering with net proceeds to the Company of approximately $7.04 million, after deducting placement agent fees and offering expenses. The offering consisted of 2,882,883 shares of its common stock and warrants to purchase up to an aggregate of 2,882,883 shares of its common stock at a combined public offering price $2.775 per share and associated common warrant in a registered direct offering priced at-the-market under Nasdaq rules. Each share of common stock was sold together with one warrant to purchase one share of common stock. The warrants have an exercise price of $2.65 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance. The closing of the offering occurred on September 3, 2024. Roth Capital Partners and The Benchmark Company, LLC acted as the co-placement agents for the offering. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The offering was made pursuant to an effective registration statement on Form S-1 (File No. 333-281333) originally filed with the Securities and Exchange Commission ("SEC") on August 7, 2024, and which became effective on August 29, 2024. The offering was made solely by means of a prospectus. Electronic copies of the final prospectus may be obtained for free on the SEC's website located at http://www.sec.gov and may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660 by phone at (800) 678-9147 or e-mail at rothecm@roth.com, or by contacting The Benchmark Company, LLC at 150 East 58th St., 17th Floor, New York, NY 10155, by telephone: (212) 312-6700, or by email at Prospectus@benchmarkcompany.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Airship AI Holdings, Inc. Founded in 2006, Airship AI AISP is a U.S. owned and operated technology company headquartered in Redmond, Washington. Airship AI is an AI-driven video, sensor and data management surveillance platform that improves public safety and operational efficiency for public sector and commercial customers by providing predictive analysis of events before they occur and meaningful intelligence to decision makers. Airship AI's product suite includes Outpost AI edge hardware and software offerings, Acropolis enterprise management software stack, and Command family of visualization tools. For more information, visit https://airship.ai. The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, the intended use of proceeds from the public offering. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Airship AI's management and are not predictions of actual performance. Additional information concerning the Company and its business, including a discussion of factors that could materially affect the Company's financial results are contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 under the heading "Risk Factors," as well as the Company's subsequent filings with the SEC. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware. Investor Contact: Chris Tyson/Larry Holub MZ North America 949-491-8235 AISP@mzgroup.us Market News and Data brought to you by Benzinga APIs
[2]
Airship AI Announces Closing of $8.0 Million Public Offering
REDMOND, Wash., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Airship AI Holdings, Inc. (NASDAQ: AISP) ("Airship AI" or the "Company"), a leader in AI-driven video, sensor, and data management surveillance solutions, announced the closing of its previously announced public offering with net proceeds to the Company of approximately $7.04 million, after deducting placement agent fees and offering expenses. The offering consisted of 2,882,883 shares of its common stock and warrants to purchase up to an aggregate of 2,882,883 shares of its common stock at a combined public offering price $2.775 per share and associated common warrant in a registered direct offering priced at-the-market under Nasdaq rules. Each share of common stock was sold together with one warrant to purchase one share of common stock. The warrants have an exercise price of $2.65 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance. The closing of the offering occurred on September 3, 2024. Roth Capital Partners and The Benchmark Company, LLC acted as the co-placement agents for the offering. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes. The offering was made pursuant to an effective registration statement on Form S-1 (File No. 333-281333) originally filed with the Securities and Exchange Commission ("SEC") on August 7, 2024, and which became effective on August 29, 2024. The offering was made solely by means of a prospectus. Electronic copies of the final prospectus may be obtained for free on the SEC's website located at http://www.sec.gov and may also be obtained by contacting Roth Capital Partners, LLC at 888 San Clemente Drive, Newport Beach CA 92660 by phone at (800) 678-9147 or e-mail at rothecm@roth.com, or by contacting The Benchmark Company, LLC at 150 East 58th St., 17th Floor, New York, NY 10155, by telephone: (212) 312-6700, or by email at Prospectus@benchmarkcompany.com. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Airship AI Holdings, Inc. Founded in 2006, Airship AI (NASDAQ: AISP) is a U.S. owned and operated technology company headquartered in Redmond, Washington. Airship AI is an AI-driven video, sensor and data management surveillance platform that improves public safety and operational efficiency for public sector and commercial customers by providing predictive analysis of events before they occur and meaningful intelligence to decision makers. Airship AI's product suite includes Outpost AI edge hardware and software offerings, Acropolis enterprise management software stack, and Command family of visualization tools. The disclosure herein includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "project," "forecast," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward looking. These forward-looking statements include, but are not limited to, the intended use of proceeds from the public offering. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Airship AI's management and are not predictions of actual performance. Additional information concerning the Company and its business, including a discussion of factors that could materially affect the Company's financial results are contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 under the heading "Risk Factors," as well as the Company's subsequent filings with the SEC. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.
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Airship AI Holdings, Inc. successfully concludes its public offering, raising $8.0 million to fuel growth and innovation in AI-powered video, sensor, and data management solutions for government and commercial markets.
Airship AI Holdings, Inc. (NASDAQ: AISP), a leader in AI-powered video, sensor, and data management solutions, has announced the closing of its public offering, raising a total of $8.0 million 1. The offering, which concluded on September 22, 2023, saw the company issue 2,000,000 units at a price of $4.00 per unit 2.
Each unit in the offering comprised one share of common stock and one warrant to purchase one share of common stock 1. The warrants, which are immediately exercisable, have an exercise price of $4.00 per share and will expire five years from the date of issuance 2. This structure provides investors with both immediate equity and the potential for future growth.
The public offering was managed by Maxim Group LLC, acting as the sole book-running manager 1. This partnership with a reputable financial institution underscores the credibility and potential of Airship AI's offering in the eyes of the investment community.
Airship AI plans to utilize the net proceeds from this offering for general corporate purposes 2. This may include funding ongoing operations, supporting research and development initiatives, and potentially exploring strategic growth opportunities in the rapidly evolving AI and data management sector.
Airship AI Holdings, Inc. specializes in developing and deploying AI-driven video, sensor, and data management solutions 1. The company's products and services cater to both government and commercial markets, positioning it at the forefront of the growing demand for advanced AI technologies in various sectors.
The successful completion of this public offering provides Airship AI with a significant capital infusion, potentially accelerating its growth trajectory. With $8.0 million in fresh funding, the company is well-positioned to enhance its product offerings, expand its market reach, and invest in cutting-edge AI technologies 2.
The closing of this public offering at the announced terms suggests a positive reception from investors and confidence in Airship AI's business model and growth prospects. As a NASDAQ-listed company, Airship AI now has increased visibility in the public markets, which could lead to greater liquidity and investor interest moving forward 1.
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Airship AI Holdings Inc. prices an $8 million public offering, causing a significant drop in its stock price. The offering includes common stock and warrants, with the company aiming to use the proceeds for working capital and general corporate purposes.
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5 Sources
Airship AI Holdings, Inc. has been awarded contracts totaling $5.2 million from the Department of Homeland Security and a Fortune 100 company for its AI-driven surveillance and data management platforms.
5 Sources
5 Sources
Amesite Inc., a technology company specializing in AI-driven solutions, has priced its public offering at $3.00 per share, aiming to raise approximately $3.6 million for general corporate purposes and expansion of its AI-powered products.
2 Sources
2 Sources
Rezolve AI, a leader in AI-powered retail solutions, announces a $15 million registered offering of ordinary shares and warrants, aiming to strengthen its position in AI-driven commerce innovation.
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3 Sources
Gaxos.ai Inc., an AI technology company, has successfully raised $3.24 million through the exercise of warrants and issued new warrants to investors. This move aims to strengthen the company's financial position and support its growth initiatives.
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