Air Industries Group Reports Amendment to Loan Agreement with Webster Bank
Air Industries Group (AIRI)
NASDAQ:AMEX Investor Relations:
airindustriesgroup.com/investor-relations
Company Research
Source: Business Wire
BAY SHORE, N.Y.--(BUSINESS WIRE)--Air Industries Group (“Air Industries”) (NYSE American: AIRI), a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors, today reported that it has reached an agreement with Webster Bank, its primary lender to amend the Company’s Current Credit Facility.The modified Credit Facility provides for the following:A waiver of the failure to achieve the fixed charge coverage ratio for the period ended March 31, 2024,A reduction in certain financial covenant metrics for the balance of calendar 2024 and the first calendar quarter of 2025,An advance under the term loan of $1 million to be used for capital expenditures and a reduction in annual amortization of the principal of the term loan by approximately $135,000. The increase in term loan was offset, in part, by a modification in the availability formula under the revolving credit line.“I am pleased that we reached this agreement with our lender,” sa
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AIRI
News
- Air Industries Group Reports Amendment to Loan Agreement with Webster Bank [Yahoo! Finance]Yahoo! Finance
- Air Industries Group (NYSE: AIRI) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Is Air Industries Group (AIRI) Stock Outpacing Its Aerospace Peers This Year? [Yahoo! Finance]Yahoo! Finance
- Air Industries Group (NYSE: AIRI) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Air Industries Group Receives Order of $2.4 Million for Landing Gear Used on the E-2C Hawkeye [Yahoo! Finance]Yahoo! Finance
AIRI
Earnings
- 4/1/24 - Beat
AIRI
Sec Filings
- 6/7/24 - Form 4
- 6/3/24 - Form 8-K
- 5/31/24 - Form SD
- AIRI's page on the SEC website