---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-090173"
form_type: "8-K"
ticker: "AIRI"
cik: "0001009891"
company_name: "AIR INDUSTRIES GROUP"
filed_at: "2023-11-27T23:59:59+00:00"
generated_at: "2026-06-07T21:17:21.429868+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Air Industries Group enters Sixth Amendment with Webster Bank, waiving Q3 defaults and resetting covenant thresholds

## Summary
- Webster Bank waived defaults for failing Fixed Charge Coverage Ratio and exceeding CapEx limit in Q3 ended Sep 30, 2023.
- Fixed Charge Coverage Ratio thresholds reset: 0.95x for Q4 2023, stepping up to 1.25x thereafter.
- Capital Expenditure limit increased to $2.5M per fiscal year.
- Company paid a $20,000 amendment fee for the waiver and modifications.
- Amendment provides temporary covenant relief with gradually increasing FCCR requirements through 2024.

## SEC filing metadata
- accession: 0001213900-23-090173
- form_type: 8-K
- ticker: AIRI
- cik: 0001009891
- company_name: AIR INDUSTRIES GROUP
- filed_at: 2023-11-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1009891/000121390023090173/0001213900-23-090173-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1009891/000121390023090173/ea189080-8k_airindust.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-090173
- JSON: https://secwatch.observer/filing/0001213900-23-090173.json
- Plain text: https://secwatch.observer/filing/0001213900-23-090173.txt

## Key facts
- Material Agreements
  AIR INDUSTRIES GROUP amended Sixth Amendment to the Loan and Security Agreement with Webster Bank valued at Waived defaults for Fixed Charge Coverage Ratio; amended ratio calculations; increased Capital Expen (effective 2023-11-20).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Webster Bank
  - Value: Waived defaults for Fixed Charge Coverage Ratio; amended ratio calculations; increased Capital Expen
  - Effective: 2023-11-20
  source text: On November 20, 2023, we, Air Industries Group, entered into a Sixth Amendment to the Loan and Security Agreement with Webster Bank ("Sixth Amendment"). In the amendment Webster Bank waived the defaults caused by the failure to achieve the required Fixed Charge Coverage Ratio for the Fiscal Quarter ended September 30, 2023, and the fact that our Capital Expenditures were in excess of the amount permitted in the Webster Facility.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1009891/000121390023090173/0001213900-23-090173-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.