
Air Industries Group $10,530,000 Common Shares - March 2014
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.
Air Industries entered into definitive agreements with certain investors to sell an aggregate of 1,170,000 shares of its common stock in a registered direct offering for gross proceeds of approximately $10,530,000, before deducting placement agent fees and estimated offering expenses. The shares were sold at a price of $9.00 per share. Taglich Brothers, Inc. acted as exclusive placement agent for the offering.
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