Taglich Brothers assists with offering; shares sold at C$9.00 apiece
By Devika Patel
Knoxville, Tenn., May 29 - Air Industries Group, Inc. said it will conduct a $10.53 million registered direct offering of shares. Taglich Brothers, Inc. is the agent.
The company will sell 1.17 million common shares at $9.00 per share. The price per share is a 16.97% discount to the May 28 closing share price of $10.84.
Settlement is expected June 3.
Proceeds will be used for general corporate purposes, including debt repayment, possible acquisitions and working capital.
Bay Shore, N.Y.-based Air Industries is an aerospace and defense company.
| Issuer: | Air Industries Group, Inc.
|
| Issue: | Common shares
|
| Amount: | $10.53 million
|
| Shares: | 1.17 million
|
| Price: | $9.00
|
| Warrants: | No
|
| Agent: | Taglich Brothers, Inc.
|
| Pricing date: | May 29
|
| Settlement date: | June 3
|
| Stock symbol: | NYSE: AIRI
|
| Stock price: | $10.84 at close May 28
|
| Market capitalization: | $60.86 million
|
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