Airship AI Holdings Inc SEC Filings

Highbridge Capital Management, LLC reports beneficial ownership of 2,723,175 shares of Airship AI Holdings, Inc. common stock exercisable upon warrants, representing 7.9% of the outstanding shares based on 31,844,471 shares outstanding as of May 15, 2025. The filing clarifies these shares are issuable upon exercise of warrants held by Highbridge funds and that Highbridge acts as investment adviser to those funds. The statement notes Highbridge Tactical Credit Master Fund, L.P. holds the right to dividends or sale proceeds for more than 5% of the class. Highbridge certifies the holdings were acquired in the ordinary course of business and not for the purpose of changing control.

Victor Huang, who serves as CEO and Chairman and is reported as a 10% owner, filed an amended Form 4 reporting a transaction and his current holdings in Airship AI Holdings, Inc. The filing shows a reported purchase (transaction code P) on 08/12/2025 for 10,000 common shares at $1.5409, resulting in 170,719 shares held directly after the reported transaction.

The filing also discloses indirect beneficial ownership of 3,393,123 shares held of record by Airship Kirkland Family Limited Partnership, for which Mr. Huang is the managing partner and over which he states voting and dispositive power but disclaims beneficial ownership except to the extent of his pecuniary interest. The Form lists sizeable derivative positions that may convert into common stock, including options (1,749,335), stock appreciation rights (1,758,105), warrants (1,344,951) and earnout rights (1,750,094), and additional direct instruments of 100,000 options and 220,000 warrants. Footnotes state many of these instruments were received in connection with the merger conversion on 12/21/2023. The amendment corrects the originally reported transaction and ending balance.

Victor Huang, CEO and Chairman of Airship AI Holdings (AISP), reported an insider purchase and detailed his full ownership and derivative positions. On 08/08/2025 he purchased 26,000 shares at $1.4649. After that transaction he directly holds 160,719 common shares and, through Airship Kirkland Family Limited Partnership (of which he is managing partner), is record holder of 3,393,123 common shares; he disclaims beneficial ownership of the partnership holdings except for any pecuniary interest. The filing lists multiple derivative instruments received as merger consideration on 12/21/2023: options for 1,749,335 shares (exercise $0.12), stock appreciation rights for 1,758,105 shares (denominated $0.12), warrants for 1,344,951 shares (exercise $1.77, direct), earnout rights for 1,750,094 shares, plus additional direct options and warrants (100,000 options at $2.86 and a 220,000-share warrant at $2.36). The Form is filed as an amendment to correct the original Form 4.

Mark E. Scott, Chief Financial Officer of Airship AI Holdings, Inc. (AISP), filed a Form 4 reporting changes in his beneficial ownership on 08/08/2025. The filing shows the conversion of pre-existing Airship AI options pursuant to the Merger Agreement and reports 43,952 shares of common stock held directly following the reported transaction.

The Form 4 also discloses derivative holdings including an option to purchase 43,952 shares (exercise price $0.57; original grant received 12/21/2023; expiration 01/15/2032), 25,000 options (exercise $1.49; exercisable 03/01/2024; expiration 03/01/2034) held indirectly, 100,000 options (exercise $2.86; expiration 08/16/2034), and 30,000 options (exercise $3.27; expiration 03/04/2035). The filing also discloses 14,650 earnout rights held indirectly that are payable upon specified operating and share-price milestones and are subject to the reporting person’s continued service; some options vest quarterly over four years.

Quarterly highlights (unaudited) Airship AI reported net revenues of $2,146,890 for Q2 2025 (vs. $6,401,031 in Q2 2024) and gross profit of $1,532,517 for the quarter. Cash and cash equivalents declined to $6,306,274 as of June 30, 2025 from $11,414,830 at December 31, 2024. The company recorded a Q2 2025 net loss of $23,757,051 driven primarily by non-cash remeasurements: a $(7,301,585) change in fair value of the earnout liability and a $(14,494,184) change in fair value of warrant liability.

Balance sheet and liabilities Total assets were $10,080,678 with total liabilities of $56,960,068. Warrant liability totaled $33,153,619 and earnout liability totaled $15,500,664 as of June 30, 2025. Stockholders' deficit was $(46,879,390). Deferred revenue (current + non-current) was $6,796,382. Customer concentration: two customers represented 65% of six-month 2025 revenue and one customer represented ~83% of receivables as of June 30, 2025.

Airship AI (NASDAQ:AISP) filed a routine Form 4 revealing that President Paul M. Allen sold 70,000 common shares on 06/23/2025 at $5.1085 per share (≈$0.36 million). Following the transaction, Allen still owns 51,948 direct shares and derivative rights/options covering roughly 1.54 million shares. No other material changes or new disclosures were included.

Airship AI Holdings, Inc. (AISP) has filed a Form 144 indicating a planned sale of restricted securities under Rule 144 of the Securities Act.

The notice discloses the proposed sale of 70,000 common shares through broker Charles Schwab Corp. at an aggregate market value of $367,514. The transaction is scheduled for 23 June 2025 on the Nasdaq exchange. According to the filing, Airship AI has 31,844,471 common shares outstanding, so the proposed sale represents approximately 0.22% of total shares.

The shares were acquired on 21 June 2024 via a stock-option exercise for 100,000 shares, paid in cash. No sales of the issuer’s securities were reported during the previous three months. The filer affirms awareness of Rule 144 requirements, states that no undisclosed adverse information is known, and confirms the intent to comply with insider-trading regulations.

Because Form 144 filings merely signal an intention to sell rather than a completed transaction, the immediate financial impact is limited; however, investors often monitor such filings as an indicator of potential insider supply entering the market.