AIRI — Smart Money Tracker (13F)

Air Industries Group entered into an amended merger agreement with Tenax Aerospace. Under the deal, a subsidiary of AIRI will merge into Tenax, and AIRI will issue approximately 126.9 million shares (or about 25.38 million after a 1-for-5 reverse stock split) to Tenax’s owners. After the merger, Tenax holders will own about 96% of the combined company, leaving existing AIRI shareholders with just 4%. The revised agreement also eliminates a previous post-closing tender offer and includes a reverse stock split to adjust the share price.