09:43 AM EDT, 10/09/2025 (MT Newswires) -- Airship AI (AISP) said Thursday it entered into a definitive agreement to immediately exercise outstanding warrants to buy about 2.16 million shares at $4.50 per share, for gross proceeds of about $9.7 million.

The company said the warrants were originally issued on Dec. 26, 2024.

As part of the transaction, Airship AI said it will issue new warrants to purchase up to 2.7 million shares at $6.20 per share in a private placement. The new warrants will be exercisable immediately, with expiration set at 5.5 years, the company said.

Airship AI said the transaction is expected to close around Friday, subject to customary conditions.

Shares of Airship AI were down more than 2% in early trading Thursday.

Price: 5.93, Change: -0.16, Percent Change: -2.63