Air Industries Group to be Acquired for $1.1 Billion

TL;DR

AIR being bought by New Mountain Capital for $1.1B cash, deal expected Q3 2024.

AI Summary

Air Industries Group announced on May 16, 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. This acquisition is expected to close in the third 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 significant changes in its operational structure and shareholder value.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, which introduces a degree of uncertainty until the deal is finalized.

Key Numbers

• $1.1B — Enterprise Value (Total value of the acquisition by New Mountain Capital.)
• $43.00 — Per Share Price (Cash amount shareholders will receive per share.)

Key Players & Entities

• Air Industries Group (company) — Company being acquired
• New Mountain Capital (company) — Acquiring entity
• May 16, 2024 (date) — Date of announcement
• $43.00 (dollar_amount) — Per share acquisition price
• $1.1 billion (dollar_amount) — Total enterprise value of the acquisition
• third 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
• $8.2 million — d orders from two customers aggregating $8.2 million for components used on UH-60 Black Hawk

Filing Documents

• ea020641001-8k_airindust.htm (8-K) — 25KB
• ea020641001ex99-1_airindust.htm (EX-99.1) — 8KB
• image_001.jpg (GRAPHIC) — 5KB
• 0001213900-24-044291.txt ( ) — 211KB
• airi-20240516.xsd (EX-101.SCH) — 3KB
• airi-20240516_lab.xml (EX-101.LAB) — 33KB
• airi-20240516_pre.xml (EX-101.PRE) — 22KB
• ea020641001-8k_airindust_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On May 16, 2024, Air Industries Group issued a press release announcing that it received orders from two customers aggregating $8.2 million for components used on UH-60 Black Hawk and H-92 Super Hawk helicopters. Deliveries of these components are expected to begin in 2025. The UH-60 Black Hawk helicopter serves as the primary helicopter for the U. S. Army and fulfills essential roles in transport, troop movement, medical evacuation and cargo lift operations. Manufactured by Sikorsky, it includes many variants and is utilized by other branches of the U.S. military and U.S. allied countries. The H-92 is a multi-mission, military derivative of the S-92 commercial helicopter, making it a larger alternative to the UH-60 Black Hawk. It is used by Canada for its Maritime Helicopter Program. The information in this Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed "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 Press release dated May 16, 2024. 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: May 16, 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