From Yahoo Finance: 2025-06-13 16:17:00

Airo Group Holdings Inc. saw a 140% surge in shares during its public trading debut after raising $60 million in an IPO. The aerospace and defense tech firm’s stock closed at $24 per share, below its marketed range, with a market value of $622 million.

Airo’s IPO was initially delayed due to market volatility but was successful after recent strong IPO performances. The company, led by executive chairman Chirinjeev Kathuria, plans to focus on drone technology for military use, with drones already operating in EU and NATO countries.

President Donald Trump’s executive orders to accelerate domestic drone production have boosted Airo’s plans to make military drones in the US and sell them to the US Department of Defense. The company’s AI-enabled drones have been used for reconnaissance and targeting in conflict zones, proving difficult to shoot down.

Airo’s decision to go public was influenced by the need for financing to expand their military drone production capabilities. The company raised funds in the IPO to limit dilution for existing shareholders and access additional financing opportunities, including government support and debt markets.

Cantor Fitzgerald & Co., BTIG, and Mizuho Securities USA were involved in Airo’s IPO, with shares trading on the Nasdaq Global Market under the symbol AIRO. The successful debut has positioned Airo as a key player in the aerospace and defense industry, with a focus on drone technology for military applications.

Read more: Drone Maker Airo Jumps 140% in Latest Post-IPO Debut Pop