AIR INDUSTRIES GROUP

Air Industries Group amended its Agreement and Plan of Merger with Tenax Aerospace Acquisition, LLC, on June 8, 2026. The amendment modifies the definition of "AIR Net Indebtedness" to mitigate the impact of a $1,971,070 prepayment received by its subsidiary, Air Industries Machining Corp. This prepayment, received on June 2, 2026, is for product manufacturing and delivery, is non-interest bearing, and is repayable by November 30, 2026, with the customer having set-off rights.

AIR INDUSTRIES GROUP reported a net loss of $1.02 million for the first quarter of 2026 on net sales of $11.61 million. The company is in default of its minimum Fixed Charge Coverage Ratio covenant and its Current Credit Facility, which expires on September 30, 2026, will not be renewed by the lender. These factors raise substantial doubt about the company's ability to continue as a going concern.