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Air Industries Group Announces 1-for-5 Reverse Stock Split

AIRI
  • Air Industries Group announced a 1-for-5 reverse stock split effective 12:01 a.m. Eastern Time on November 20, 2026.
  • The split aims to ensure compliance with NYSE American initial listing standards requiring a minimum share price of $4.00.
  • The company's common stock will begin trading on a split-adjusted basis when the market opens on November 20, 2026.
  • The Board authorized the split on November 3, 2026, without shareholder approval under Nevada law.
  • Pending approval of an authorized share increase from 20 million to 200 million at a special meeting on November 18, 2026, the company will reduce authorized shares to 40 million.
  • The number of outstanding shares will decrease from 4,856,181 to approximately 971,237 shares.
  • No fractional shares will be issued; holders of fractional entitlements will automatically receive a rounded-up whole share.
  • Stockholders holding certificates must follow instructions from transfer agent Broadridge to exchange old certificates, while "street name" holders need not take action.
  • The split is part of preparations for a proposed merger with Tenax Aerospace Acquisition, LLC.