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Airship AI Holdings will present at the 35th Annual Roth Conference from March 12-14, 2023 in Dana Point, CA. This event highlights the company's AI-driven surveillance technology aimed at enhancing public safety. A significant update involves a non-binding letter of intent for a business combination with BYTE Acquisition Corp. (NASDAQ: BYTS), announced on March 10, 2023. The completion of this merger is contingent upon due diligence, negotiations, and approvals from both companies' boards and shareholders. No guarantees exist regarding the agreement's finalization or terms.
BYTE Acquisition Corp. (NASDAQ: BYTS) announced a non-binding letter of intent for a potential business combination with Airship AI Holdings, Inc., an AI-driven edge video and data management platform. The proposed combination values Airship AI at a pro forma enterprise value of $290 million. BYTE aims to secure a $4 million pre-transaction bridge and raise additional capital through a private investment. Airship AI expects approximately $14.5 million in revenue with a 57.9% growth margin in 2022. The company has a robust pipeline of $162 million and previously established relationships with major agencies and Fortune 500 companies.
BYTE Acquisition Corp. (Nasdaq: BYTS) has announced the postponement of its Extraordinary General Meeting, initially scheduled for December 20, 2022. The meeting will now occur closer to the business combination deadline of March 23, 2023. Shareholders holding Class A and Class B shares as of November 17, 2022, will be eligible to vote.
The Company is also soliciting proxies from shareholders and emphasizes that forward-looking statements in the release carry risks and uncertainties that may impact actual results.
