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Air Industries Group, Inc. NYSE MKT: AIRI Qualified Independent Underwater in the Follow-On Offering of the above referenced securities
The Client A publicly traded aerospace and defense company which designs and manufactures structural parts and assemblies that focus on flight safety. The company was seeking capital to close on a number of publicly announced acquisitions for which it had entered into definitive documents.
The Mandate National was engaged to act as Qualified Independent Underwriter (QIU) by both the Company and the Lead Underwriter given the conflict of interest posed by the Lead Underwriter’s principal holdings of the Company’s common stock.
The Solution National conducted an independent due diligence investigation of the Company including an onsite visit to the various operating facilities, in-depth discussions with management about the business, rationale for the acquisitions and the impact thereof. National also performed valuation analysis and provided guidance on pricing in support of the transaction.