![]() Kathuria has founded and served as Chairman on several publicly traded companies, most recently co-founding Ocean Biomedical which is pursuing programs in oncology, fibrosis, and infectious diseases and listed on NASDAQ in February of 2023. an entrepreneur, investor, physician, philanthropist, and graduate of Brown University’s School of Medicine, and Stanford University’s Graduate School of Business. PubCo common stock and warrants are expected to be listed on Nasdaq, under the symbols “AIRO” and “AIROW,” respectively.ĪIRO’s Executive Chairman and co-founder is Dr. Upon closing of the merger transaction (the “Transaction”), AIRO and Kernel will be wholly-owned subsidiaries of PubCo. (“PubCo”) that will acquire both Kernel and AIRO. The Merger Agreement provides AIRO with a path to becoming a publicly listed company through a new Delaware holding company, AIRO Group, Inc. (“AIRO”), a multi-faceted air mobility, autonomy & aerospace platform with differentiated technologies and capabilities that dynamically address high growth market trends across the entire aviation & aerospace ecosystem. ![]() New York, NY, Ma(GLOBE NEWSWIRE) - Kernel Group Holdings (NASDAQ: KRNLU) (“Kernel”), a special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, or similar business combination with one or more businesses, announced today that it has entered into a definitive business combination agreement (the “Merger Agreement”) with AIRO Group Holdings, Inc. The combined company will be renamed “AIRO Group, Inc” and its common stock and warrants are expected to be listed on Nasdaq, under the symbols “AIRO” and “AIROW,” respectively, upon closing of the transaction. Entities and funds managed by Meteora own equity interests in the sponsor. Prior to entering into the Merger Agreement, Kernel Group Holdings signed an Agreement for an up to 7.7 million share backstop with Meteora Special Opportunity Fund I, LP, Meteora Select Trading Opportunities Master, LP, and Meteora Capital Partners, LP (collectively, “Meteora”). Pro forma equity value of the combined company is expected to be approximately $847 million, assuming no redemptions of current Kernel public stockholders, with the proposed business combination expected to be completed in Q3 2023. $1.0T total addressable market and 1,225 annual eVTOL production by 2030 ![]() $43 million estimated revenue in 2023 and $2.9 billion estimated revenue by year 7 With well-known brands such as Aspen Avionics and Jaunt Air Mobility, AIRO is leveraging its core business successes to launch its global portfolio. AIRO is a multi-faceted air mobility, autonomy & aerospace platform with differentiated technologies and capabilities that dynamically address high growth market trends across the entire aviation & aerospace ecosystem.ĪIRO has aligned its business into four divisions that complete its aerospace and defense offering: Advanced Avionics, Electric Air Mobility, Uncrewed Air Systems, and Training.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |