AIRO Group Holdings (AIRO), a drone manufacturer, avionics, training and electric air mobility company, priced its IPO at $10.00 – down from its price range of $14.00 to $16.00 – and increased the number of shares to 6.0 million – up from 5.0 million shares in the prospectus – to raise $60.0 million on Thursday night, June 12, 2025. AIRO’s stock opened at $12.90 – up $2.90 or 29.0 percent from its $10.00 IPO price – at 10:58 a.m. EDT today – Friday, June 13, 2025 – on NASDAQ volume of 388,769 shares. AIRO blasted into the moonshot zone – trading at $$27.01 shortly before noon EDT today – more than twice its $10.00 IPO price – on NASDAQ volume of about 4.7 million shares. A moonshot occurs when a new public company’s stock price doubles – up 100 percent from its IPO price – or soars beyond that level – during its first day of trading.
AIRO’s stock closed at $24.00 – up $14.00 from its IPO price for a 140 percent gain – on its first day of NASDAQ trading, on Friday, June 13th. Volume was about 14.04 million shares. During the day, AIRO’s stock touched a session high at $39.07.
At pricing, AIRO Group Holdings had a market cap of $259.03 million. At Friday’s close, AIRO Group Holdings had a market cap of $621.67 million.
Cantor, BTIG, Mizuho and Bancroft Capital were the joint book-runners of AIRO’s IPO.
This deal landed quickly on the IPO Calendar this week. AIRO’s IPO was postponed in mid-April as the U.S. stock market was roiled by uncertainty over the impact of President Donald Trump’s tariffs.
AIRO Group Holdings, based in Albuquerque, New Mexico, said about 75 percent of its revenue in 2024 came from its drone manufacturing business, according to the prospectus.
AIRO Group is not profitable, according to financial statements in the prospectus: The company reported a net loss of $38.69 million on revenue of $86.94 million for the year that ended Dec. 31, 2024.
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