AIRO Group Holdings, Inc. (AIRO Proposed) rolled out onto the IPO runway by disclosing the terms – 5.0 million shares at a price range of $14.00 to $16.00 – to raise $75 million, according to its S-1/A filing early today – Thursday, April 10, 2025. It’s worth noting that this is much smaller than the $100 million in estimated IPO proceeds. More noteworthy, though, is that AIRO Group’s IPO filing is the first sizable deal since President Donald Trump hit the 90-day “pause” button yesterday – Wednesday, April 9, 2025 – on reciprocal tariffs except for China. The U.S. stock market roared back to life with a historic rally, driving the S&P 500 up almost 10 percent. (Please see the IPO Calendar for AIRO Group’s IPO pricing date.)
Cantor is leading the joint book-running team, which includes BTIG, Mizuho and Bancroft.
The company, based in Albuquerque, N.M., plans to use about $23.4 million – slightly less than a third of the IPO’s estimated proceeds – to pay off debt, the prospectus said.
AIRO Group Holdings would have a market cap of $373.31 million – a few notches above the top of the small-cap IPO threshold – if the IPO is priced at the $15.00 mid-point of its range. This is a NASDAQ listing.
The aerospace and defense company’s business is organized into four operating segments: drones, avionics, training and electric air mobility, which “collectively target a combined total addressable market estimated to be over $315.4 billion by 2030,” the prospectus said.
“We are a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities,” AIRO Group Holdings said in the prospectus. “We leverage decades of industry expertise and connections across the drone, aviation, and avionics markets to provide leading solutions to the aerospace and defense market. We offer connected and diversified solutions providing operational synergies across our segments and are powered by an international footprint as well as supplier and public sector relationships. Supported by complementary and innovative technologies, we believe we bring a unique value proposition to the market and are well-positioned to become a differentiated leader in the industry.”
AIRO Group Holdings is not profitable, according to the prospectus.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
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