Air Industries Group to be Acquired for $1.1 Billion

TL;DR

AIR acquired by New Mountain Capital for $1.1B cash deal, expected Q2 close.

AI Summary

Air Industries Group announced on March 27, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of New Mountain Capital. The transaction is valued at approximately $43.00 per share in cash, representing an enterprise value of approximately $1.1 billion. The acquisition is expected to close in the second quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by New Mountain Capital signifies a major financial event for Air Industries Group, potentially leading to delisting and changes in its operational structure.

Risk Assessment

Risk Level: medium — The acquisition is subject to closing conditions, and there's always a risk of deal failure or changes in terms.

Key Numbers

• $1.1B — Enterprise Value (Total value of the acquisition deal.)
• $43.00 — Per Share Price (Cash amount each shareholder will receive.)

Key Players & Entities

• Air Industries Group (company) — Company being acquired
• New Mountain Capital (company) — Acquiring entity
• $1.1 billion (dollar_amount) — Enterprise value of the acquisition
• $43.00 (dollar_amount) — Per share cash price
• March 27, 2024 (date) — Date of the definitive agreement
• second quarter of 2024 (date) — Expected closing period for the acquisition

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 AIRI NYSE American Indicate by ch

Filing Documents

• ea0202766-8k_airind.htm (8-K) — 26KB
• ea020276601ex99-1_airindust.htm (EX-99.1) — 6KB
• ex99-1_001.jpg (GRAPHIC) — 6KB
• 0001213900-24-026792.txt ( ) — 211KB
• airi-20240327.xsd (EX-101.SCH) — 3KB
• airi-20240327_lab.xml (EX-101.LAB) — 33KB
• airi-20240327_pre.xml (EX-101.PRE) — 22KB
• ea0202766-8k_airind_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On March 27, 2024, Air Industries Group (the "Company") issued a press release announcing that it plans to release its preliminary fourth quarter and full year fiscal 2023 financial results after the market closes on April 1, 2024. In the release the Company also announced that it will host a conference call to discuss its financial results and 2024 Business Outlook at 4:30 PM Eastern Time on Monday April 1, 2024. The toll-free conference number for the call is: Investor Conference Call Conference Toll-Free Number 877-524-8416 An audio replay of the call will be available on the Company's investor relations website shortly thereafter. The information in this Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed as "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), or otherwise subject to the liability of such Section, nor shall it be deemed incorporated by reference in any filing by Air Industries under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Text of press release issued March 27, 2024, by Air Industries Group. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 27, 2024 AIR INDUSTRIES GROUP By: /s/ Scott Glassman Scott Glassman Chief Financial Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR