AIRO Announces Launch of Its Initial Public Offering

ALBUQUERQUE, N.M. & MONTREAL & STØVRING, Denmark & WASHINGTON–(BUSINESS WIRE)–AIRO Group Holdings, Inc. (“AIRO”), a company specializing in advanced aerospace and defense technologies, today announced the commencement of its initial public offering of 5,000,000 shares of its common stock. AIRO expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares (solely to cover over-allotments, if any) of its common stock at the initial public offering price, less underwriting discounts and commissions. AIRO has applied to list its common stock on the Nasdaq Global Market under the ticker symbol “AIRO.”

The initial public offering price is expected to be between $14.00 and $16.00 per share. AIRO currently intends to use the net proceeds it receives from this offering, together with its existing cash and restricted cash to support growth initiatives across each segment, repay debt and general corporate purposes.

Cantor, BTIG, and Mizuho are acting as joint lead book-running managers for the proposed offering and Bancroft Capital is acting as book-running manager for the proposed offering.

A registration statement on Form S-1, including a prospectus, relating to the proposed offering of securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. Accordingly, the securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the proposed offering may be obtained from: Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at [email protected]; BTIG, LLC, 65 East 55th Street, New York, New York 10022, or by email at [email protected]; and Mizuho Securities USA LLC, Attention: U.S. ECM Desk, 1271 Avenue of the Americas, New York, New York 10020, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, 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 AIRO

AIRO is a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. AIRO is organized into four operating segments, each of which represents a critical growth vector in the aerospace and defense market: Drones, Avionics, Training, and Electric Air Mobility.

Contacts

Dan Johnson

AIRO Group Holdings, Inc.

[email protected]