Airship AI raises $9.7 million through warrant exercise

Airship AI Holdings Inc. (NASDAQ: AISP) announced the exercise of warrants to purchase 2,162,162 shares of common stock at $4.50 per share, generating gross proceeds of approximately $9.7 million.

The transaction involves existing warrants issued on December 26, 2024. The closing is expected to occur around October 10, 2025, subject to customary closing conditions.

As part of the arrangement, warrant holders will receive new warrants in a private placement. These new warrants allow the purchase of up to 2,702,702 shares at $6.20 per share and have a 5.5-year exercise term.

Roth Capital Partners serves as the company's financial advisor for the transaction.

The shares underlying the original warrants are registered under an effective Form S-3 registration statement. The company has committed to filing a resale registration statement within 20 days of closing to register the shares underlying the new warrants.

Airship AI, based in Redmond, Washington, develops AI-driven video, sensor and data management surveillance solutions for public sector and commercial customers. The company was founded in 2006 and trades on the NASDAQ under ticker AISP.

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