secwatch.observer — SEC 8-K summary
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Issuer:     AIR INDUSTRIES GROUP (AIRI)
CIK:        0001009891
Form:       8-K
Filed at:   2026-06-12T20:30:37+00:00
Accession:  0001213900-26-068306
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air Industries amends merger agreement to exclude $1.97M customer advance from net debt calculation
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- Amendment to Feb 2026 merger with Tenax redefines AIR Net Indebtedness to exclude a $1.97M prepayment from a customer.
- Subsidiary AIM received $1.97M advance on June 2, 2026, under a promissory note for manufacturing supplies, non-interest bearing.
- Advance must be repaid by Nov 30, 2026, or may be set off against future customer payments for product deliveries.
- Adjustment reduces shares issuable to Tenax members by excluding the advance from net debt, preserving deal economics.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1009891/000121390026068306/0001213900-26-068306-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1009891/000121390026068306/ea0294039-8k_airindus.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-068306

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