Air Industries Group to be Acquired by New Mountain Capital

TL;DR

AIR to be bought by New Mountain Capital for ~$1.1B cash deal.

AI Summary

Air Industries Group announced on August 13, 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 fourth quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by a private equity firm could lead to significant changes in Air Industries Group's operations and strategic direction, potentially impacting its stock performance and market position.

Risk Assessment

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

Key Numbers

• $1.1B — Enterprise Value (Total value of the acquisition deal)
• $43.00 — Per Share Price (Cash amount shareholders 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
• August 13, 2024 (date) — Date of the announcement
• fourth quarter of 2024 (date) — Expected closing period of the acquisition

FAQ

Key Financial Figures

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

Filing Documents

• ea0211205-8k_airindust.htm (8-K) — 24KB
• ea021120501ex99-1_airindust.htm (EX-99.1) — 9KB
• ex99-1_001.jpg (GRAPHIC) — 5KB
• 0001213900-24-067938.txt ( ) — 211KB
• airi-20240813.xsd (EX-101.SCH) — 3KB
• airi-20240813_lab.xml (EX-101.LAB) — 33KB
• airi-20240813_pre.xml (EX-101.PRE) — 22KB
• ea0211205-8k_airindust_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On August 13, 2024, Air Industries Group (the "Company") issued a press release announcing that it will release its financial results for the three and six months ended June 30, 2024, on Wednesday August 14, at 8:30 am Eastern Time. In the release the Company also announced that it will host a conference call the same day, Wednesday, August 14 th , at 4:30 PM Eastern Time to discuss its results. The conference call number is 877-524-8416 and the call will be made available for replay at www.airindustriesgroup.com. 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 August 13, 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: August 13, 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