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REDMOND, Wash., Aug. 29, 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, today announced the pricing of a public offering priced at-market according to Nasdaq rules 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 of $2.775 per share and associated common warrant. Each share of common stock is being sold together with one warrant to purchase one share of common stock. The warrants will 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 is expected to occur on or about September 3, 2024, subject to the satisfaction of customary closing conditions.
Roth Capital Partners and The Benchmark Company, LLC are acting as the co-placement agents for the offering.
The gross proceeds to the Company from the offering are expected to be approximately $8.0 million, before deducting the placement agents’ fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes.
The securities described above are being offered pursuant to the Company’s 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 public offering is being made only by means of a prospectus, which is part of the effective registration statement. When available, 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.