Airship Going Public At $290 Million Valuation
Long-term VMS developer Airship, now Airship AI, has announced its plans to go public, via a SPAC at a $290 enterprise valuation.
SPACs boomed early in the Pandemic, though have generally struggled since (e.g., Evolv, Knightscope, Latch).
** ***** **, ****, ******* *** BYTE *********** **** ********* * ***-******* LoI ******* * ******** "$*** ******* pipeline" *** ***** ** ******** ******* by ***% ** *** **** * years.
* ***** ***, ******* ****, **** ****** ********** *** * "***** ***************** ***** *******" ****** ** "***** [its] ****** *** ******* ** *** Israeli ********** ********",***********"****** **** **** *** ******* ********** sector". *** ******* ** *** ** Israeli ********** *******.
** *** ******** ******* ** **** report, **** ******** *** **** ** this *********** *** * ******** **** in ***** *****, ***** ** *** analysis ** *** *******'* ******** **** and *** ******* ****** ** *** and ** *********.
Executive *******
******* *** ********* ** **** *** years *** **** **** ****** ******* fundamental ********.
- *** *** ** "**" ** *** more ******** **** ** ** *********, both ** ***** ** ********** *** market *********.
- *** ******** ** *************** **********, **** most ** ** ***** *********** ** the ******* ****** ** * "****** research" *****.
- *** ******* *** ******* **** ** fund *** ******* ***** ****** ** both ******* *** ******* (*.*., *** company **** ** * ***** ** will ** **** **** ****'* $**.* million ** ******* *** ** ******* to $** ******* ** *****). ** the ****** **** ***** ***** **** tried ** ***** ******* *** **** partially *********, ** *** ***** ** massive **** ****.
- *** ******* ***** ******** *** ******-****** and ****** *********** **** ** ***** have ********* ********** **** * ******* approach (*.*., ***********-****** *****).
- *** *******'* ******* ** *************** ************ into * *** ***** ******* (*.*., FedEx ***** ********** * ********* ** the *******'* *******) *** *** *** shown ** ******* ** *** ******-**** of ********* ** *** ******** **** broadly.
*** ****-**** ******** *** ******* **** we *** ** **** **** *** a ******* ** ****-********** ******** **** could **** ******* **** *** **** of ******** ** *******. *******, ***** their ******* **** *** **********, ** are ********* **** ***** ** ******* than ****.
*** *****-**** (**** ****** ********) *** Airship ** **** **** ** ****** at * *** *****-**-***** ***** *** quickly **** **% **** * ~$*** million ****** ************** ** * ~$** million *********. ******* *** * ****** business *** *** *** **** ** appropriate *** * ***** **** ********* SPAC.
Airship ********
** ********* **** ** *** ******** and ********* **** *******. **********'* *** ****** **************:
** ****** * ***-******* *** **** BYTE, ** ** ** ***** ******* the ******* **** *** ***. ** a ******, ** *** *** ** liberty ** ******* ******** ***** **** what ** ******* *********. * **** you *** **********. ***** *** ******* becomes **** **********, ** ***** ** able ** ******* *** ****** ** a ***** ****.
Investor **** & ***** *******
*** ******** ******* *** *********** ***** ******* *** the **** ********* ** *** **** extensive ******* ** *** **** *** are *** ***** ** *** ********* and ******** ******.
From *** ** **
***** *** ********* ******* ********* "**", Airship ***, *** **** **** ** years, **** * *** *******. ******, the *******'* ********** ******* ** "**********.***". *******, ** *** **** *** months, ******* *** ******* * *** website ****** "*********.***" ******** ** **, ****** ******* any ******* ***** *** **** *** special ** **. *********, ***** *** various ****-****** ** ****** ** ** used, *** **** **** *** ******* any ******* *********** *** *******.
Historical *******
*******'* ******* ** ****** *******. *** example,** ****, *** ******* **** **"**** *** ******* **-**% ******** **** $10+ ******* ****** *******" *** ** just ******** ******* **** **** *** $14.5 ******* ** ******* **** ****.
Headcount *******
************, *******'* ********* *** ******** **% in *** **** * *****, *** LinkedIn:
Projected *******
*** ******* *** *** "********* *********** milestones" **:
$** ******* ** ******* *** $* million ** ****** ** ****, ******* earned ** *********** ** $*** ******* of ******* *** $** ******* ** EBITDA ****** ***** *****
*********, *** ******* ** ********** **** than ******** ******* ** **** *** and ***% ******** ** ******* **** 2022 ** **** ** $*** *******.
******* *********** *** *******, ***** *** a *** **** ** **** ** aiming *** $** ******* ** *****, almost ***** *** ******* **** ****.
Cash ******
******* ******* **** *********** **** ** hand, **** *** **** ********* **** $5 ******* *** *** ********* ** raise $** ** * ****:
*** $** ******* *** *** *** been *******, ** *** ******* ********:
**** *** ******* ** ****** ** jointly ***** ********** ******* *** * private ********** ** ****** ****** (****)
**** ***** ** * ********* ******* as, ** **** *********** ***********, ** may ** ********* ** ******** *********, especially ** **** *********. *** *******, less **** * **** ***,*****'* **** **** ***** **** *** of *** ************* ****** *** *** * *********** could *** ** *****.
********
*** ******* *** * ******** ** more **** *** *** **** ****'* revenue **** **% **** *** ** federal **********.
**** **** $*** ******* (** **%+) comes **** * ******** **** ******** as "****** ********":
********* *** **** **** ** ******* and ***** **** *** ******* ****** admits **** ** **** ** **** is "****** ********" ** ***** ** very ********* ***** **** ***** **** to ***** **** ** **** ********.
TAM *****
*** ******* ******** ******* ****** ****** claims **** *** *** ****** **** it ***** ******* **** *** ********, e.g., ** ********** $*** ******* ** retail ***** *****, ** **** *** company *** ****** ********** **:
*****
***** *** ******* **** *** **** FedEx ** **** *****, ** ******* they *** ********* ** *****, *** company's *******-**** ********:
Marketplace **********
*******'* *********** ********** ************* ************* ***** market, ** ***** *****:
***** ******* **** ** ******** "**** sensors", *** ******* **** *** *********** cameras (*.*., ******* **** ** ****, Axon, *** ****** *** ********* ****** there). ********, ******* ******** ** ******* about **** ********* ** ******** ******. Airship ********* ***** ******* ***** *********' analytics ** ******* *** **** ******** minimal ***************.
****, ** ** ******* ** *** federal **********, *******'* ******* ******** ******, the ******* ************* ********, ***** ******* has ********* ** ***** *** ** these ********** ** **** ** ******* which ****** ****, *****/*****, *** *********.
******* ***********, **** ** *** ****** that ******* ******* ** ******* ** end-to-end ********, **** **** ** ********* claimed, ***** ** ** ******** *** to ******* *********** ********* ******* * massive ******** ** ********* (*.*., *** competitors ***-**-*** **** **** * ******** or **** ********* ** *********).
Extension *****
** ** **** ****, **** ***** needs ** *** ************ ** ***** to ***** ** ********* ** *** initial, ******, *-**** ****** **** ******* be ********* ** **** ***** *** do * **** ***:
“* ***** **** **** ** ****** our ************ **** **** ** ******* shareholder ******** ** ** ********* ** time ** ******** *** ******* ******** combination **** ***** **, **** ** September **, **** (*** ‘*********’),” **** Sam *****, ***** ********* ******* *** Chief ********* ******* ** ****. “**** Extension **** **** ** **** ** progress ******* * ******** *********** **** the ******. ** *** *** * shareholder ** ****** ** ** ******** 21, ****, *** ****** **** *** the *********** *******, *urge *** ** **** ** ***** ** *** *********.” [emphasis added]
** *** ********* ** ***** ****, there ***** ****** ** * **** to ************ ****** ************ ***** *** that **** ** **** **** ***** through **** **** ****.
*******
***** **** *** ******* *** ******** this ****, ** **** ***, ** believe **** *** ******** ******* ***** be ** **** **** **** *** a ***** **** *********** ***** ***** decline.
******: **** **** ***** ******* ********** ~$*** ******* *********:
**** ******* ********** ** ****** ***********:
** ******** **** ***** ******** ** multiple **** ***** ***** ********* ***** $10.9 *******, ******* ** ********* **** by ** ****** ****** *** ********** of ******** ******** (***), *** ******** integrated ********* ********** ****-**** ************ ********** operations ***** *** ****** ******’ *******, leveraging *** *******’* **** *** *********, Outpost **.
*****://***.************.***/****/****/**************/**/*******-**-********-***.-**-****-**-******-*******-********-***********-****-****-***********-****.