---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-062651"
form_type: "8-K"
ticker: "AISP"
cik: "0001842566"
company_name: "Airship AI Holdings, Inc."
filed_at: "2023-08-02T23:59:59+00:00"
generated_at: "2026-06-12T14:50:59.000971+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# BYTE Acquisition enters non-redemption agreements for $7M of shares to support Airship AI merger

## Summary
- Sponsor Byte Holdings LP agreed to acquire $6M in public shares, waive redemption rights, and abstain from voting in exchange for $0.033/share/month fee.
- Existing shareholder agreed not to redeem $1M in public shares in connection with the Business Combination.
- The agreements satisfy a $7 million non-redemption condition under the Merger Agreement with Airship AI.
- Non-redemption payments begin July 29, 2023 and terminate at closing, deal termination, or outside date.
- Post-closing, the company agreed not to issue equity below $5/share for 7 months.

## SEC filing metadata
- accession: 0001213900-23-062651
- form_type: 8-K
- ticker: AISP
- cik: 0001842566
- company_name: Airship AI Holdings, Inc.
- filed_at: 2023-08-02T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1842566/000121390023062651/0001213900-23-062651-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1842566/000121390023062651/ea182667-8k425_byteacq.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-062651
- JSON: https://secwatch.observer/filing/0001213900-23-062651.json
- Plain text: https://secwatch.observer/filing/0001213900-23-062651.txt

## Key facts
- Material Agreements
  Airship AI Holdings, Inc. entered into Merger Agreement with BYTE Acquisition Corp., Airship AI Holdings, Inc., Byte Merger Sub Inc. valued at Business Combination. BYTS will domesticate into Delaware, Merger Sub will merge with Airship AI, Ai (effective 2023-06-27).
  - Action: entry
  - Agreement: merger
  - Counterparty: BYTE Acquisition Corp., Airship AI Holdings, Inc., Byte Merger Sub Inc.
  - Value: Business Combination. BYTS will domesticate into Delaware, Merger Sub will merge with Airship AI, Ai
  - Effective: 2023-06-27
  source text: As previously disclosed, on June 27, 2023, BYTE Acquisition Corp., a Cayman Islands exempted company ("BYTS"), entered into a merger agreement ("Merger Agreement") with Airship AI Holdings, Inc., a Washington corporation ("Airship AI"), and Byte Merger Sub Inc., a Washington corporation and wholly-owned subsidiary of BYTS ("Merger Sub"), pursuant to which BYTS will domesticate by way of continuation out of the Cayman Islands and into the State of Delaware and, thereafter, Merger Sub will merge with and into Airship AI, with Airship AI surviving as a wholly-owned subsidiary of BYTS (collectively, the "Business Combination").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1842566/000121390023062651/0001213900-23-062651-index.htm
- Material Agreements
  Airship AI Holdings, Inc. entered into Non-Redemption Agreement with Non-Redeeming Shareholder valued at Non-Redeeming Shareholder agreed not to redeem $1 million in aggregate value of Public Shares in con (effective 2023-08-01).
  - Action: entry
  - Counterparty: Non-Redeeming Shareholder
  - Value: Non-Redeeming Shareholder agreed not to redeem $1 million in aggregate value of Public Shares in con
  - Effective: 2023-08-01
  source text: Additionally, on August 1, 2023, BYTS entered into a Non-Redemption Agreement with an existing shareholder (the "Non-Redeeming Shareholder") holding Public Shares, pursuant to which the Non-Redeeming Shareholder agreed not to redeem $1 million in aggregate value of Public Shares held by it on the date of the Non-Redemption Agreement in connection with the Business Combination.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1842566/000121390023062651/0001213900-23-062651-index.htm
- Material Agreements
  Airship AI Holdings, Inc. entered into Non-Redemption Agreement with Byte Holdings LP (Sponsor) valued at Sponsor agreed to acquire $6 million in BYTS Class A ordinary shares from shareholders, waive redemp (effective 2023-08-01).
  - Action: entry
  - Counterparty: Byte Holdings LP (Sponsor)
  - Value: Sponsor agreed to acquire $6 million in BYTS Class A ordinary shares from shareholders, waive redemp
  - Effective: 2023-08-01
  source text: On August 1, 2023, BYTS entered into a non-redemption agreement ("Non-Redemption Agreement") with Byte Holdings LP, a Cayman Islands exempted limited partnership and the Sponsor of BYTS ("Sponsor").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1842566/000121390023062651/0001213900-23-062651-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.