Air Industries Group $7,188,000 Common Stock for Nassau Tool Acquistion - July 2012
Air Industries Group is an aerospace and defense company that has been supplying flight critical and other sophisticated parts and assemblies to Prime Defense and Commercial aerospace manufacturers. The Company manufactures and assembles structural parts and assemblies that focus on the safety of flight. Air Industries Group also provides sheet metal fabrications for aero structure assemblies, tube design and bending, and welding services.
Nassau Tool Works (NTW) is a long established and well respected Long Island based manufacturer of aerospace components whose customers include major aircraft manufacturers and the United States Government. Nassau Tool’s primary business is the fabrication of parts, sub-assemblies and complete landing gear systems for military fighter aircraft.
Taglich Brothers completed a private placement of approximately one million shares and facilitated the conversion of most of our Junior Subordinated Notes to common stock. This transaction increased our stockholders equity significantly and allowed us to acquire Nassau Tool with only a minor increase in our total debt outstanding.
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