Air Industries and Tenax Aerospace Pivot Merger Terms for NYSE Compliance

The companies have locked in a fixed consideration of 126.9 million shares of Air Industries common stock to be issued to Tenax interest holders. To meet exchange standards, Air Industries will execute a one-for-five reverse stock split prior to the deal's finalization.

These adjustments effectively abandon the February agreement's tender offer, which had originally obligated Air Industries to repurchase up to 1 million shares from shareholders of record immediately before the merger closed. By streamlining the deal structure, management aims to ensure the combined entity retains its ticker and market access without interruption.