Air Industries Group Announces Registered Direct Offering of $10.53 Million

Air Industries Group Announces Registered Direct Offering of $10.53 Million 
BAY SHORE, NY -- (Marketwired) -- 05/29/14 --  Air Industries Group
(NYSE MKT: AIRI) 
Air Industries Group (NYSE MKT: AIRI) ("Air Industries" or "the
Company"), announced today that it has 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. National Securities Corporation acted the qualified
independent underwriter for the offering. 
The Company intends to use the net proceeds from the offering for
general corporate purposes, which may include, among other things,
repayment of debt, the financing of possible acquisitions and working
capital. The closing of this offering is expected to occur on or
about June 3, 2014, subject to satisfaction of customary closing
conditions. 
The securities described above are being offered pursuant to the
Company's effective "shelf" registration statement on Form S-3 (File
No. 333-191748), which was declared effective by the Securities and
Exchange Commission ("SEC") on December 11, 2013, and may only be
offered by means of a prospectus. When filed with the SEC, copies of
the prospectus supplement and accompanying base prospectus relating
to this offering may be obtained from the SEC's website at
http://www.sec.gov, or by request to Taglich Brothers, Inc. at 275
Madison Avenue, New York, New York 10016, by telephone at 212 661
6886. 
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. 
About Air Industries Group: 
Air Industries Group is an integrated manufacturer of precision
equipment assemblies and components for leading aerospace and defense
prime contractors. Air Industries designs and manufactures flight
critical products including flight safety parts, landing gear and
components, arresting gear, flight controls, sheet metal fabrications
and ground support equipment.  
Certain matters discussed in this press release are 'forward-looking
statements' intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of 1995.
In particular, the Company's statements regarding trends in the
marketplace, its belief that the slowdown caused by the Sequester
will reverse in the 2nd half of 2014, the ability to realize firm
backlog and projected backlog, the satisfaction of customary closing
conditions for the offering, closing of the registered direct
offering and the use of anticipated proceeds, potential future
results and acquisitions, are examples of such forward-looking
statements. The forward-looking statements are subject to numerous
risks and uncertainties, including, but not limited to, the timing of
projects due to variability in size, scope and duration, the inherent
discrepancy in actual results from estimates, projections and
forecasts made by management, regulatory delays, changes in
government funding and budgets, and other factors, including general
economic conditions, not within the Company's control The factors
discussed herein and expressed from time to time in the Company's
filings with the Securities and Exchange Commission could cause
actual results and developments to be materially different from those
expressed in or implied by such statements. The forward-looking
statements are made only as of the date of this press release and the
Company undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances. 
Contact Information 
For additional information, please call
Air Industries Group
631.881.4913
ir@airindustriesgroup.com 
 
 
Press spacebar to pause and continue. Press esc to stop.