Air Industries Group to be Acquired for $40M

TL;DR

AIR is going private! New Mountain Capital buying for $1.70/share, deal closes Q4.

AI Summary

Air Industries Group announced on September 4, 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 to receive $1.70 per share in cash. The deal is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition by New Mountain Capital will take Air Industries Group private, potentially leading to significant changes in its operational strategy and financial structure.

Risk Assessment

Risk Level: medium — The acquisition is subject to closing conditions, and there's always a risk of the deal falling through or terms changing.

Key Numbers

• $40.0M — Transaction Value (Total amount New Mountain Capital is paying for Air Industries Group.)
• $1.70 — Price Per Share (Cash amount each shareholder will receive.)

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 per share (dollar_amount) — Price per share for shareholders
• September 4, 2024 (date) — Date of the announcement
• fourth 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
• $66 billion — ation Agency reported that FMS exceeded $66 billion in fiscal year 2023, an increase of nea
• $34.8 billion — ar 2023, an increase of nearly 90% from $34.8 billion in fiscal 2021. The information in thi

Filing Documents

• ea021334801-8k_airindust.htm (8-K) — 24KB
• ea021334801ex99-1_airindust.htm (EX-99.1) — 12KB
• image_001.jpg (GRAPHIC) — 5KB
• 0001213900-24-075325.txt ( ) — 216KB
• airi-20240904.xsd (EX-101.SCH) — 3KB
• airi-20240904_lab.xml (EX-101.LAB) — 33KB
• airi-20240904_pre.xml (EX-101.PRE) — 22KB
• ea021334801-8k_airindust_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On September 4, 2024, Air Industries Group (the "Company") issued a press release announcing that it had entered into a Marketing Agreement with All-System Aerospace International to pursue foreign military sales. The partnership covers 17 countries across Europe, the Middle East, Asia and the Pacific, and represents a major step forward in Air Industries' strategic goal to broaden its marketing and distribution to allied militaries. The foreign military sales market has been experiencing rapid growth and the Defense Security Cooperation Agency reported that FMS exceeded $66 billion in fiscal year 2023, an increase of nearly 90% from $34.8 billion in fiscal 2021. 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 September 4, 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: September 4, 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