AIRO slides after launching stock offering

** Shares of aerospace and defense technologies firm AIRO Group AIRO.O down 8.9% to $18.66 on Tues as it looks to raise equity just three months since going public

** Albuquerque, New Mexico-based AIRO commences 3.5 mln share offering

** It intends to use net offering proceeds primarily to fund growth initiatives and potential acquisitions, and to repurchase 815,000 shares from certain stockholders

** Cantor is lead bookrunner for proposed offering

** On Jun 13, AIRO shares closed at $24 in their first day of trading after IPO of 6 mln shares priced at $10

** Co's business is organized into four segments: drones, avionics, military training and electric air mobility

** As of Aug 13, co had ~27.4 mln shares outstanding, according to its filing