Attached files

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EX-23.2 - AIR INDUSTRIES GROUPe616304_ex23-2.htm
EX-10.20 - AIR INDUSTRIES GROUPe616304_ex10-20.htm
EX-3.4 - AIR INDUSTRIES GROUPe616304_ex3-4.htm
EX-1.1 - AIR INDUSTRIES GROUPe616304_ex1-1.htm
S-1/A - AIR INDUSTRIES GROUPe616304_s1a-air.htm

 

 

  Eaton & Van Winkle LLP  

Vincent J. McGill

Partner

 

3 PARK AVENUE 

NEW YORK, NEW YORK 10016

 

Direct Dial: (212) 561-3604

June 19, 2017

 

Board of Directors 

Air Industries Group

330 Motor Parkway, Suite 100

Hauppauge, NY 11788

 

Re: Registration Statement on Form S-1 (Registration No. 333- 217582)

 

Gentlemen:

 

We have acted as counsel to Air Industries Group, a Nevada corporation (the “Company”), in connection with the Company’s registration statement on Form S-1 filed with the Securities and Exchange Commission (the “Commission”) on May 2, 2017 (Registration No. 333- 217582), as amended on June 5, 2017, and June 19, 2017 (the “Registration Statement”) under the Securities Act of 1933, as amended (the “Securities Act”).  The Registration Statement relates to the registration of the offer and sale of up to an aggregate of $14,950,000 in shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), including shares of Common Stock that may be offered and sold by the Company to cover over-allotments and up to $780,000 in shares of Common Stock upon the exercise of warrants to be issued to the representative(s) of the underwriters (the “Representative’s Warrants”) in accordance with the terms of the underwriting agreement, pursuant to the Registration Statement (together, the “ Shares”), and (ii) the Representative’s Warrants.

 

This opinion letter is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K promulgated under the Securities Act.

 

In rendering the opinion set forth below, we examined and relied upon such certificates, corporate records, agreements, instruments and other documents, and examined such matters of law, that we considered necessary or appropriate as a basis for the opinion. In our examination, we have assumed the legal capacity of all natural persons, the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as certified or photostatic copies and the authenticity of the originals of such latter documents.  As to any facts material to the opinion expressed herein that we did not independently establish or verify, we have relied upon oral or written statements and representations of officers and other representatives of the Company and others.

 

Based upon the foregoing and subject to the assumptions, qualifications and limitations set forth herein, we are of the opinion that:

 

  1. The Shares have been duly authorized and, when the Shares are delivered to the underwriters against payment of the agreed consideration therefor in accordance with the underwriting agreement, the Shares will be validly issued, fully paid and non-assessable.
  2. The Representative’s Warrants have been duly authorized by the Company and, when duly executed and delivered by the Company, the Representative’s Warrants will be the valid and binding obligations of the Company, enforceable against the Company in accordance with their terms.

 

The opinion expressed above with respect to the Representative’s Warrants is subject to (i) the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally (including without limitation all laws relating to fraudulent transfers), and (ii)  and the effect of general principles of equity, including without limitation concepts of materiality, reasonableness, good faith and fair dealing (regardless of whether considered in a proceeding in equity or at law).

 

 

  

We express no opinion with respect to the enforceability of indemnification provisions, or of release or exculpation provisions, contained in the underwriting agreement and the Representative’s Warrant to the extent that enforcement thereof is contrary to public policy regarding the indemnification against or release or exculpation of criminal violations, intentional harm, violations of securities laws or acts of gross negligence or willful misconduct.

 

The opinions expressed herein are based upon and limited to the Revised Nevada Statutes, the applicable provisions of the Nevada Constitution and reported judicial decisions interpreting the foregoing and the laws of the State of New York and the United States of America.   We express no opinion herein as to any other laws, statutes, regulations or ordinances.

 

We hereby consent to the filing of this opinion letter as Exhibit 5.1 to the Registration Statement and to the reference to our firm under the caption “Legal Matters” in the prospectus included in the Registration Statement.  In giving such consent, we do not thereby admit that we are experts within the meaning of the Securities Act or the rules and regulations of the Commission.

 

  Very truly yours,
   
  /s/ Eaton and Van Winkle LLP
  Eaton and Van Winkle LLP