Kernel Tacks on Another Month to Work on Airo Merger

Kernel Group in an 8-K said it extended its deadline to May 5 as it works on finalizing a deal with AIRO Group Holdings, an air mobility, autonomy & aerospace platform. The transaction calls for a new Delaware holding company, AIRO Group, to acquire both Kernel and AIRO.

The deal was announced in March 2023 at a pro forma enterprise value of approximately $847 million, assuming no redemptions.

Kernel shareholders in February approved monthly extensions up to Aug. 5.

Kernel raised $265 million in a February 2021 IPO. Read more.

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