Mentioned:
There’s a new aerospace company on the Nasdaq. And they’re aiming to build the future of electric vertical takeoff and landing aircraft and drones.
What’s happening:
- Aerospace and defense company Airo Group Holdings (NASDAQ: AIRO) has successfully raised $60M USD in their IPO financing round and begun trading on the Nasdaq
By the numbers:
- Airo Group Holdings sold 6M common shares at $10.00 USD per share in their IPO financing round
Why it matters:
- Airo Group Holdings is one of the only publicly traded aerospace companies based in America that is focused on manufacturing electric vertical takeoff and landing aircraft, drones and advanced avionics and electronics technology
Going deeper:
- Airo Group Holdings has existing contracts from some of America’s largest government agencies, including the Department of Defense, the Department of Homeland Security and even the Federal Bureau of Investigation
- The Federal Aviation Administration has granted Airo Group Holdings with more than 600 individual approvals for their avionics and electronic technology, which has been installed in hundreds of aircrafts and drones globally
