Air Industries Group entered into a Thirteenth Amendment to its Loan and Security Agreement with its primary lender, extending the maturity date of the revolving credit and term loans to April 30, 2027. The company paid a $50,000 amendment fee and agreed to pay an additional $50,000 on the new maturity date. Concurrently, holders of convertible and nonconvertible subordinated notes extended their note maturities to May 1, 2027. If the contemplated merger with Tenax Aerospace Acquisition, LLC does not close by November 30, 2026, the principal amount of these Related Party Notes will increase by 2% effective December 1, 2026, and interest rates will reset to the greater of 12.5% or SOFR plus 8.5%. Air Industries Group operates in the aerospace industry, manufacturing aircraft components.
