AIR INDUSTRIES GROUP (AIRI): Entry into a Material Definitive Agreement
AIR INDUSTRIES GROUP (AIRI) filed an SEC Form 8-K — Entry into a Material Definitive Agreement. EX-10.2 3 ea029403901ex10-2.htm FORM OF PROMISSORY NOTE WITH RESPECT TO ADVANCE RECEIVED JUNE 2, 2026 Exhibit 10.2 Certain information has been excluded from this exhibit because it is both not material and is information that the registrant typically treats as private and confid
How this was made
The 30-second read
Why it matters
Key disclosed mechanics include: advance used to purchase Inco 718 component parts; repayment in full by Nov 30, 2026; non-interest bearing until an Event of Default; and a 2% per annum default interest rate plus potential setoff against reduced goods payments for deliveries in Sep–Nov 2026.
Market read
This is a primary contract disclosure that could affect perceived liquidity/credit terms, but the excerpt lacks the principal amount and counterparty details needed for a strong trading signal.
What to watch
Traders should verify the redacted principal amount, lender identity, and whether setoff against goods deliveries changes gross margin or revenue recognition timing.
Background
The 8-K discloses Item 1.01 entry into a material definitive agreement and includes a form of promissory note governing an advance from a lender to Air Industries Machining Corp. for component purchases used in manufacturing goods.
Ticker impact
Air Industries Group entered a material definitive agreement disclosed via an 8-K, including a form of promissory note for an advance to its machining subsidiary.
Likely limited near-term impact; investors may focus on whether the advance size/terms materially change liquidity or credit risk, but the excerpt provides no principal amount.
This is a primary SEC 8-K disclosure (new contract terms), but the provided text is heavily redacted and does not state the principal amount or the counterparty identity, limiting quantifiable impact.
Market effects
Financing/working-capital structures for aerospace/industrial machining supply chains may be a modest read-through, but no sector-wide data is provided.
No clear regional impact beyond the company’s US manufacturing footprint.
No direct global macro or cross-border transaction details beyond export-control language.
Counterpoint
Because the note is non-interest bearing until default and repayment is scheduled within months, the market may treat this as routine working-capital support rather than a distress signal.
Key entities
- issuerAir Industries Group
Subject of the 8-K; the filing includes the promissory note form tied to an advance for component purchases.
- subsidiary/borrowerAir Industries Machining Corp.
Borrower under the promissory note; repays principal by Nov 30, 2026 and is subject to default provisions.
