BYTE Acquisition Corp. (NASDAQ: BYTS) announced this morning that it has completed its business combination with video, sensor and data management platform Airship AI. Shareholders already approved the deal at a meeting held on December 19.
The combined company has now been renamed to “Airship AI Holdings, Inc.” Beginning at the open of trading on December 22, the company’s common stock and warrants will trade on Nasdaq under the ticker symbols “AISP” and “AISPW,” respectively.
BYTE has not yet disclosed redemption numbers, but went into its completion vote with an aggregate of 94.32% of its trust already redeemed from previous extensions. Prior to redemptions from this week’s meeting, it had $19.5 million left in its trust.
The SPAC announced its $303 million combination with Airship AI in June, but signed a non-binding letter of intent with the target in March. Redmond, Washington-based Airship AI develops and provides AI-driven video and sensor management software and services to a wide range of government, law enforcement, and commercial customers.
The Airship AI team hopes to utilize this transaction, combined with its $163 million pipeline, to accelerate the delivery of its AI-driven edge video, sensor and data management platform.
As part of that pipeline, the company recently began delivery of multiple firm fixed price contracts worth $10.9 million, awarded by an agency within the Department of Homeland Security, for advanced integrated solutions supporting real-time intelligence collection operations along the United States’ borders.
One of the eternal questions surrounding SPACs has been their ability or inability to match the opportunity and the performance of the traditional IPO route, and it has become received wisdom on Wall Street that SPACs don’t match up. This is ostensibly born out in in the aggregate statistics that are frequently cited. But, downside...
At the SPAC of Dawn Despite the specter of recession looming, many of the hot technology sectors that SPACs favored during the boom times appear to be coming back on the menu. Ares II (NYSE:AACT) is reportedly angling to lock down a deal with an autonomous trucking firm. Northern Genesis II and Reinvent Y each...
Cantor Equity Partners II (NASDAQ:CEPT) filed another warrantless SPAC showing that the firm will not be slowing down despite Cantor CEO Howard Lutnick moving his attentions to the administration. The new $200 million SPAC would join Cantor Equity Partners I (NASDAQ:CEPO), which became the first SPAC to IPO this year and Cantor Equity Partners (NASDAQ:CEP),...
At the SPAC of Dawn US market futures continue to be flash dark red after a major down day saw SPAC-favorite exchange Nasdaq lose about -4% of its value leaving it running down -9.5% on the year. The sudden downturn has been somewhat personal for the administration as Trump Media (NASDAQ:DJT) itself fell about -11.5%...
Titan Acquisition Corp has filed for a $240 million SPAC IPO, aiming to focus on opportunities in the finance and tech-enabled services industry. The blank-check company intends to list on the Nasdaq under the symbol “TACHU”, offering 24,000,000 units at $10.00 each, with the trust funded at 100.5%. The unit structure includes one-half of one...