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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.