AIR INDUSTRIES GR.DL-,001

Air Industries has amended the merger agreement with Tenax Aerospace to comply with NYSE American listing requirements and sets a fixed merger consideration of 126,900,000 common shares (equivalent to 25,380,000 after the planned 1‑for‑5 reverse stock split). The debt‑adjusted merger price is $3.05 per share ($15.25 after the split); the stock is trading slightly below that at $2.94. The amended agreement removes a previously planned tender offer, calls for filing an S‑4 with the SEC and submitting the transaction for shareholder approval; Air Industries manufactures aircraft components and, according to InvestingPro, has weak financials and a market capitalization of $14.31 million. » Altro su de.investing.com

The audit for the fiscal year ended December 31, 2025, includes a going-concern warning and confirms that the consolidated financial statements were prepared on a going-concern basis. The background is roughly $31 million in total debt versus a market capitalization of about $15 million, and a debt-financed free cash flow of -$4.67 million over the last twelve months. Air Industries Group manufactures precision components for aerospace and defense and has signed a merger agreement with Tenax Aerospace Acquisition that, if completed, is intended to pay off all existing debt. » Altro su de.investing.com

Air Industries Group has appointed Scott Glassman as interim CEO and president, and as president of all subsidiaries, with immediate effect. Glassman previously served as CFO, principal accounting officer and secretary and has held various senior finance roles at the company since 2007. The board also named Brian Drisgula vice president of finance and treasurer/secretary of the subsidiaries. The appointments come against a backdrop of high debt, a negative EPS of -$0.52 and preliminary annual losses; the company is simultaneously planning a merger with Tenax Aerospace (transaction value $380 million) and has extended a loan with Webster Bank through September 30, 2026. » Altro su de.investing.com