Air Industries Group to be Acquired for $40M

TL;DR

AIR going private for $1.70/share in $40M deal with New Mountain Capital.

AI Summary

Air Industries Group announced on May 21, 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 $40.0 million, with shareholders expected to receive $1.70 per share in cash. This acquisition is anticipated to close in the third quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by New Mountain Capital will take Air Industries Group private, potentially impacting its future strategic direction and shareholder value.

Risk Assessment

Risk Level: medium — The deal is subject to customary closing conditions, and there's always a risk of regulatory hurdles or financing issues in M&A transactions.

Key Numbers

• $40.0M — Transaction Value (Total amount to be paid for Air Industries Group.)
• $1.70 — Price Per Share (Cash amount shareholders will receive for each share.)

Key Players & Entities

• Air Industries Group (company) — Company being acquired
• New Mountain Capital (company) — Acquiring entity
• $40.0 million (dollar_amount) — Total transaction value
• $1.70 (dollar_amount) — Price per share
• May 21, 2024 (date) — Announcement date
• third quarter of 2024 (date) — Expected closing period

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 AIRI NYSE American Indicate by ch
• $2.4 million — uncing that it has received an order of $2.4 million for spare landing gear assemblies to be

Filing Documents

• ea0206577-8k_airindust.htm (8-K) — 24KB
• ea020657701ex99-1_airindust.htm (EX-99.1) — 11KB
• ex99-1_001.jpg (GRAPHIC) — 22KB
• 0001213900-24-045370.txt ( ) — 237KB
• airi-20240521.xsd (EX-101.SCH) — 3KB
• airi-20240521_lab.xml (EX-101.LAB) — 33KB
• airi-20240521_pre.xml (EX-101.PRE) — 22KB
• ea0206577-8k_airindust_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On May 21, 2024, Air Industries Group issued a press release announcing that it has received an order of $2.4 million for spare landing gear assemblies to be used on the E-2C Hawkeye. Deliveries of the landing gear are expected to be made in 2026 through 2027. Air Industries supports the E-2C/D Hawkeye program by providing the main and nose landing gear, as well as the arresting gear. The E-2C/D Hawkeye is a twin-engine, tactical aircraft. Often referred to as the "digital quarterback," it conducts battlefield management and command and control operations for aircraft carrier strike groups. 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 21, 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 21, 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