Airship AI Holdings, Inc. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES. Market Information Our units, Class A ordinary shares and warrants are listed on Nasdaq under the symbols “BYTSU,” “BYTS” and “BYTSW”, respectively. Holders As of December 31, 2022, there were two holders of record of our units, one holder of record of our Class A ordinary shares, one holder of record of our Class B ordinary shares and one holder of record of our warrants. The number of holders of record does not include a substantially greater number of “street name” holders or beneficial holders whose units, Class A ordinary shares and warrants are held of record by banks, brokers and other financial institutions. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Offerings Unregistered Sales The sales of the founder shares and private placement units to our Sponsor as described herein were deemed to be exempt from registration under the Securities Act, in reliance on Section 4(a)(2) of the Securities Act as transactions by an issuer not involving a public offering. Use of Proceeds On March 17, 2021, our registration statement on Form S-l (File No. 333-253618) was declared effective by the SEC for the Public Offering pursuant to which we sold an aggregate of 32,369,251 units at an offering price to the public of $10.00 per unit for an aggregate offering price of $323,692,510, with each unit consisting of one Class A ordinary share and one-half of one redeemable warrant. Each warrant entitles the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Citigroup Global Markets Inc. acted as representative for the underwriters (the “Underwriters”). Our Public Offering did not terminate before all of the securities registered in our registration statement were sold. The Public Offering was consummated on March 23, 2021. Net proceeds of $323.7 from the Public Offering and the sale of the private placement units, including deferred underwriting discounts of approximately $11,329,238, were held in the Trust Account as of December 31, 2022. We paid $6,473,850 in underwriting discounts and incurred offering costs of approximately $678,956 related to the Public Offering. In addition, the Underwriters agreed to defer approximately $11,329,238 in underwriting discounts, which amount will be payable when and if a business combination is consummated. No payments were made by us to directors, officers or persons owning ten percent or more of our ordinary shares or to their associates, or to our affiliates. There has been no material change in the planned use of proceeds from the Public Offering as described in our final prospectus dated March 18, 2021 which was filed with the SEC. 54 ITEM 6. [RESERVED].