Air Industries Group Files 8-K: Material Agreement
Ticker: AIRI · Form: 8-K · Filed: Feb 3, 2025 · CIK: 1009891
| Field | Detail |
|---|---|
| Company | Air Industries Group (AIRI) |
| Form Type | 8-K |
| Filed Date | Feb 3, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001, $1.6 million, $1.9 million, $33 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, 8-K
TL;DR
AIR Industries Group signed a material definitive agreement on Jan 31, 2025. Big news!
AI Summary
On January 31, 2025, Air Industries Group entered into a material definitive agreement. The filing also includes Regulation FD Disclosure and Financial Statements and Exhibits. The company, incorporated in Nevada, is involved in the Aircraft Part & Auxiliary Equipment sector.
Why It Matters
This 8-K filing indicates a significant new agreement for Air Industries Group, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.
Key Players & Entities
- AIR INDUSTRIES GROUP (company) — Registrant
- January 31, 2025 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of Incorporation
- 1460 Fifth Avenue, Bay Shore, New York 11706 (address) — Principal Executive Office Address
FAQ
What type of material definitive agreement did Air Industries Group enter into?
The filing states that the company entered into a 'Material Definitive Agreement' but does not specify the nature of the agreement in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 31, 2025.
In which state is Air Industries Group incorporated?
Air Industries Group is incorporated in Nevada.
What is the principal executive office address of Air Industries Group?
The principal executive office address is 1460 Fifth Avenue, Bay Shore, New York 11706.
What is the Standard Industrial Classification code for Air Industries Group?
The Standard Industrial Classification code for Air Industries Group is 3728, which corresponds to Aircraft Part & Auxiliary Equipment, NEC.
Filing Stats: 640 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2025-02-03 07:15:34
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 AIRI NYSE American Indicate by ch
- $1.6 million — expanded our Term Loan by approximately $1.6 million. These funds will be used for the purch
- $1.9 million — he art machinery, costing approximately $1.9 million. This investment in production equipmen
- $33 million — ent will support the recently announced $33 million contract and will greatly increase thro
Filing Documents
- ea0229551-8k_airindus.htm (8-K) — 26KB
- ea022955101ex10-1_airindus.htm (EX-10.1) — 40KB
- ea022955101ex99-1_airindus.htm (EX-99.1) — 11KB
- ex99-1_001.jpg (GRAPHIC) — 5KB
- 0001213900-25-009093.txt ( ) — 266KB
- airi-20250131.xsd (EX-101.SCH) — 3KB
- airi-20250131_lab.xml (EX-101.LAB) — 33KB
- airi-20250131_pre.xml (EX-101.PRE) — 22KB
- ea0229551-8k_airindus_htm.xml (XML) — 3KB
01 Entry Into a Definitive Material Agreement
Item 1.01 Entry Into a Definitive Material Agreement. On January 31, 2025, we, Air Industries Group, entered into the Eighth Amendment to Loan and Security Agreement with Webster Bank ("Eighth Amendment"). In the Eighth Amendment Webster Bank relaxed the financial covenants in the agreement, permitted the repayment of our subordinated debt, and expanded our Term Loan by approximately $1.6 million. These funds will be used for the purchase of new state of the art machinery, costing approximately $1.9 million. This investment in production equipment will support the recently announced $33 million contract and will greatly increase throughput. A copy of the Eighth Amendment is annexed to this Report as Exhibit 10.1 and reference is made thereto for the complete terms and conditions of the Eighth Amendment.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On February 3, 2025 Air Industries Group issued a press release announcing that it had reached an agreement with Webster Bank, its primary lender, to amend the Company's Credit Facility. A copy of the press release is annexed as Exhibit 99.1 to this Report. The information contained in Item 7.01 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 us 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 10.1 Eighth Amendment to Loan and Security Agreement with Webster Bank, National Association 99.1 Press Release issued by Air Industries Group on February 3, 2025 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: February 3, 2025 AIR INDUSTRIES GROUP By: /s/ Scott Glassman Scott Glassman Chief Financial Officer 2