secwatch.observer — SEC 8-K summary
======================================

Issuer:     AIR INDUSTRIES GROUP (AIRI)
CIK:        0001009891
Form:       8-K
Filed at:   2026-02-17T23:59:59+00:00
Accession:  0001213900-26-016863
Event type: m_and_a
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air Industries to acquire Tenax Aerospace via share issuance; Tenax holders to own 95%
--------------------------------------------------------------------------------

- Issues ~112.5M shares (95% post-close) to Tenax members; existing holders retain ~5%.
- Combined FY2025 pro forma revenue ~$183.3M, Adjusted EBITDA ~$65.0M.
- Pro forma 2026 revenue >$210M, Adjusted EBITDA >$75.0M; net debt ~$380M.
- Tom Foley (Tenax Chair) to become Chairman; closing expected by June 30, 2026.
- Debt Adjusted AIR Share Price ~$3.44; tender offer for up to 1M shares if price below that.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1009891/000121390026016863/0001213900-26-016863-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1009891/000121390026016863/ea0277269-8k_airindus.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-016863

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer