AirSculpt Technologies Announces Launch Of Underwritten Public Offering Of 3.16M Shares

AirSculpt Technologies, Inc. (NASDAQ:AIRS) ("AirSculpt" or the "Company"), a national provider of premium body contouring procedures, today announced the launch of an underwritten public offering of 3,160,000 shares of its common stock. The underwriter will also have a 30-day option to purchase up to 474,000 additional shares of common stock. All of the shares of common stock in the offering are being sold by the Company.

Vesey Street Capital Partners, L.L.C., which is affiliated with two directors and is the largest stockholder of the Company, has expressed an interest in purchasing up to $4.0 million in shares of common stock in the offering. However, because indications of interest are not binding agreements or commitments to purchase, the Company and the underwriter could determine to sell more, fewer or no shares to any potential purchaser, and such potential purchaser could determine to purchase more, fewer or no shares in the offering.

AirSculpt currently intends to use a portion of the net proceeds from the offering for the prepayment of a portion of the Company's outstanding indebtedness under its existing credit agreement and the remainder of the net proceeds from the offering for general corporate purposes, including working capital and other business opportunities.