Tenax’s Merger with Air

On February 17, 2026, Tenax Aerospace Acquisition, LLC ("Tenax") and Air Industries Group ("Air") jointly announced that they have entered into an Agreement and Plan of Merger to combine Tenax's special mission aviation business with Air's precision aerospace manufacturing business. At the time of the merger, Air will issue shares of its common stock to holders of Tenax membership units. After the closing, Tenax shareholders are expected to own approximately 95% of Air's outstanding shares while existing Air shareholders are expected to own approximately 5%, and the combined company expects to remain listed on the NYSE American under the symbol AIRI. Cravath is representing Tenax in connection with the transaction.

The Cravath team is led by partners Thomas E. Dunn and Matthew L. Ploszek and includes associate Helen Catherine Darby on M&A matters; partner C. Daniel Haaren on capital markets matters; partners J. Leonard Teti II and Arvind Ravichandran and associate Carolyn Liziewski on tax matters; partner Matthew J. Bobby and associates S. Celine Li and Keanna N. Joseph on executive compensation and benefits matters; partner Sasha Rosenthal-Larrea and associate Liza C. Clark on intellectual property matters; partner Matthew Morreale and of counsel Annmarie M. Terraciano on environmental matters; and of counsels Joyce Law and Brian M. Budnick on real estate matters. Sayer S. Paige also worked on M&A matters.