Airship AI announces exercise of warrants for $9.7M in proceeds

Airship AI (AISP) Holdings announced the entry into a definitive agreement for the immediate exercise of certain outstanding warrants to purchase up to an aggregate of 2,162,162 shares of common stock, issued by the Company on December 26, 2024 at the existing exercise price of $4.50 per share. The shares of common stock issuable upon exercise of the Existing Warrants are registered pursuant to an effective registration statement on Form S-3. The closing of the offering is expected to occur on or about October 10, 2025, subject to satisfaction of customary closing conditions. Roth Capital Partners is acting as the Company’s financial advisor for this transaction. In consideration for the immediate exercise of the warrants for cash, the exercising holders will receive new warrants to purchase shares of common stock in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. The new warrants will be exercisable into an aggregate of up to 2,702,702 shares of common stock, will be exercisable immediately at an exercise price of $6.20 per share, and have a term of exercise equal to five and one-half years. The securities offered in the private placement have not been registered under the Securities Act of 1933, as amended, or applicable under state securities laws. Accordingly, the securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. As part of the transaction, the Company has agreed to file a resale registration statement on Form S-3 with the Securities and Exchange Commission within 20 days of the closing to register the resale of the shares of common stock underlying the new warrants issued in the private placement.