AIIR AIR Holdings Ltd
Price Chart
Executive Summary
AIR Holdings Ltd published a podcast transcript promoting its $1.7 billion SPAC merger with Cantor Equity Partners III, highlighting strong 2025 financials ($400M consolidated revenue, $139M adjusted EBITDA, $116M operating cash flow) and the company's profitable, cash-generative core business. The deal, which does not include a PIPE, is on track for a shareholder vote on May 12, 2026, for the Nasdaq listing under ticker AIIR.
Key Financial Metrics
Actionable Insight
The deal appears on track for the May 12 shareholder vote. Monitor for any redemptions or last-minute opposition. A successful vote would result in a Nasdaq listing, providing liquidity and potential re-rating for this profitable niche consumer company.
Key Facts
- SPAC merger valued at $1.7 billion with Cantor Equity Partners III
- FY2025 consolidated revenue of $400M and adjusted EBITDA of $139M
- Operating cash flow of $116M in 2025
- No PIPE financing – company is profitable and cash-generative
- Shareholder vote scheduled for May 12, 2026
- Nasdaq listing expected under ticker AIIR
Financial Impact
Transaction value $1.7 billion; company generated $400M revenue and $139M adjusted EBITDA in 2025
Risk Factors
- Risk of shareholder vote failure or high redemptions
- Regulatory approvals required for the business combination
- Execution risk in scaling new product categories (OOKA, nicotine adjacencies)
- Category concentration in hookah/shisha, which faces regulatory scrutiny
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001193125-26-208758 |
| Document: 0001193125-26-208758-index-headers.html | 0001193125-26-208758 |
| Document: 0001193125-26-208758-index.html | 0001193125-26-208758 |
| Document: 0001193125-26-208758.txt | 0001193125-26-208758 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 18, 2026
22d ago
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6-K
| $9.50 $7.11 | ▼ −25.16% | ▼ −27.40% | $6.78 (−28.63%) |
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May 15, 2026
25d ago
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6-K
| $10.44 $8.34 | ▼ −20.11% | ▼ −21.73% | $6.78 (−35.06%) |
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May 6, 2026
4w ago
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425
| $10.43 $11.98 | ▲ +14.86% | ▲ +13.69% | $6.78 (−35.00%) |
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Apr 23, 2026
6w ago
|
425
| $10.45 $10.42 | ▼ −0.29% | ▼ −1.76% | $6.78 (−35.12%) |
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Apr 22, 2026
6w ago
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425
| $10.45 $10.42 | ▼ −0.29% | ▼ −1.76% | $6.78 (−35.12%) |
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Apr 14, 2026
8w ago
|
425
| $10.33 $10.34 | ▲ +0.10% | ▼ −1.30% | $6.78 (−34.37%) |
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Apr 7, 2026
9w ago
|
425
| $10.33 $10.33 | · 0.00% | ▼ −3.52% | $6.78 (−34.37%) |
US Market Status
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