Air Industries Group Extends Webster Bank Loan and Subordinated Notes to Late 2026

What happened

Air Industries Group, a Bay Shore, New York-based maker of aircraft parts and auxiliary equipment, said it entered a Twelfth Amendment to its Loan and Security Agreement with Webster Bank on August 18, 2026. The amendment pushes the maturity date of the company's revolving credit and term loans to November 30, 2026.

At the same time, holders of the company's subordinated notes — Michael Taglich and Robert Taglich — agreed to extend the maturity of those notes to December 1, 2026. The company disclosed the agreement in a Form 8-K filed with the SEC on August 24, 2026.

The stock rose 12.5% to $2.61 on the day of the filing, on volume more than five times its average, according to price data.

The filing

The Form 8-K was filed under Item 1.01 (Entry Into a Definitive Material Agreement) and Item 9.01 (Financial Statements and Exhibits). The exhibit includes the full text of the Twelfth Amendment.

The company said the extension of the subordinated notes was agreed to concurrently with the bank amendment. The filing does not explain why the extensions were needed, and the company did not provide further details in this report.

Air Industries Group, which trades on the NYSE American under the ticker AIRI, describes itself as a manufacturer of aircraft parts and auxiliary equipment.

What this means

A Form 8-K is a current report that public companies must file with the SEC to announce major events, such as entering into a material agreement. Item 1.01 specifically covers definitive agreements that are not made in the ordinary course of business, and this amendment qualifies because it changes the terms of the company's existing debt.

The 'Loan and Security Agreement' is a type of credit facility where a lender (here, Webster Bank) provides loans backed by company assets, such as inventory or receivables. The 'revolving credit' is a line of credit the company can draw and repay as needed, while 'term loans' are fixed amounts repaid over a set schedule. Extending the maturity date gives Air Industries more time to repay these obligations.

Subordinated notes are a form of corporate debt that ranks below (is subordinated to) the bank loans in priority if the company goes bankrupt or defaults — meaning the bank gets paid first. The notes are held by Michael Taglich and Robert Taglich, who are insiders (they are also significant shareholders of the company). Their extension to December 1, 2026, keeps the notes in place for nearly the same duration as the bank loans.

The fact that the maturity dates were extended suggests the company needed to push back its repayment deadlines, but the filing does not say whether Air Industries is currently able to repay the debt or why the extension was sought. Normally, borrowers request extensions when they need more time to pay, but lenders may also agree for their own reasons — the source document does not specify.

What happens next: the loans and notes are now due in late November and early December 2026. Unless the company repays or refinances before then, it will need to negotiate another extension or repay in full. The filing does not indicate any current default or inability to pay.