BYTE Acquisition Corp. signs LOI for business combination with Airship AI at $290M EV

Airship AI Holdings, Inc.

Non-binding LOI for SPAC merger; pro forma enterprise value of $290M (assuming 98% public redemptions).
Airship AI shareholders roll 100% of equity; earnout milestones: $12.50/$15.00 share price or $30M/$100M revenue targets.
Airship AI expects ~$14.5M revenue (2022E), ~57.9% gross margin, positive EBITDA; $162M pipeline.
BYTE seeks shareholder approval to extend deadline from March 23 to September 25, 2023; non-redemption agreements signed.
Airship AI serves DHS, DOJ, FedEx, Home Depot; $4M pre-transaction bridge secured; PIPE expected.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.