Air Industries extends Santander loan maturity to April 30, 2027 and Taglich notes to May 1, 2027

AIR INDUSTRIES GROUP

Air Industries' Thirteenth Amendment with Santander Bank extends revolving and term loan maturity to April 30, 2027; AIRI paid a $50,000 amendment fee.
Borrowers also owe a $50,000 additional fee at maturity, making aggregate additional fees $200,000 with the prior $150,000 fee from the Eleventh Amendment.
Michael and Robert Taglich extended related-party notes to May 1, 2027; if the Tenax merger does not close by Nov. 30, 2026, principal rises 2%.
Post-Nov. 30, 2026, Taglich note interest resets to greater of 12.5% or SOFR+8.5%, and default rate to greater of 24% or SOFR+15%; conversion price stays unchanged.

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