AIRO announces launch of public offering of common stock

* AIRO Group (NASDAQ:AIRO [https://seekingalpha.com/symbol/AIRO]) announced the commencement of an underwritten public offering of 3.5M shares of its common stock.
* AIRO currently intends to use the net proceeds from this offering primarily to fund growth initiatives and pursue opportunistic acquisitions of complementary businesses, products, services or technologies that align with AIRO’s strategic objectives and to repurchase 815,000 shares of common stock held by certain stockholders at a price per share equal to the public offering price per share in the offering.
* In addition, if the underwriters exercise their option to purchase additional shares, AIRO intends to use a portion of the net proceeds to repurchase up to an additional 301,312 shares from such stockholders. Any remaining proceeds will be used for general corporate purposes, including working capital and ongoing operational needs.
* AIRO -7.31% after hours to $19.0.
* Source: Press Release [https://seekingalpha.com/pr/20224958-airo-announces-launch-of-public-offering-of-common-stock]

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* Historical earnings data for AIRO Group Holdings, Inc. [https://seekingalpha.com/symbol/AIRO/earnings]