secwatch.observer — SEC 8-K summary
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Issuer:     Airship AI Holdings, Inc. (AISP)
CIK:        0001842566
Form:       8-K
Filed at:   2023-12-28T23:59:59+00:00
Accession:  0001654954-23-016064
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 5.02, 3.02, 4.01, 9.01, 3.03, 5.01, 5.03, 5.05, 5.06, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

Airship AI closes SPAC merger with BYTE; begins trading on Nasdaq as AISP
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- Merger consideration of $225M in stock at $10.00/share; up to 5M earnout shares contingent on revenue and stock price milestones.
- 1,068,187 BYTS shares redeemed for ~$11.5M (~$10.81/share); post-merger: 27.3M common shares and 19.4M warrants outstanding.
- Sponsor forfeited 1M shares; 150,000 plan shares issued to bankruptcy claim holders as full settlement.
- Shares and warrants began trading on Nasdaq on Dec 22, 2023 under symbols AISP and AISPW.
- Lock-up: 180 days for most shares; additional 12-month lock-up for shares issued upon first operating milestone.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1842566/000165495423016064/0001654954-23-016064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1842566/000165495423016064/airsp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-016064

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