AIRO Group soars in Nasdaq debut after $60 million IPO

ReutersJun 13, 2025 3:20 PM

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Aerospace and defense company AIRO Group's AIRO.O shares jump as much as 81.5% to $18.15 in their Nasdaq debut

Stock opens at $12.90 vs $10 IPO price; halted for volatility

AIRO late on Thursday sold 6 million shares for gross proceeds of $60 million

Albuquerque, New Mexico-based AIRO had earlier marketed 5 million shares priced between $14 and $16 apiece

Cantor, BTIG, and Mizuho were the joint lead book-running managers for the offering

AIRO plans to use the proceeds to repay debt, grow its business, and other purposes

IPO comes after AIRO's previous attempt to go public through an $847 million blank-check deal was scrapped last year

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