CPI Aerostructures Postpones Annual Meeting

Rhea-AI Summary

CPI Aerostructures (NYSE American: CVU) has postponed its annual stockholders' meeting initially set for June 25, 2021. The board will establish a new record date and publicly announce the revised meeting details in the future. Alongside this, CPI Aero plans to submit an updated proxy statement to the SEC. The company specializes in manufacturing structural assemblies for aircraft and is a significant supplier to the U.S. Department of Defense, also providing engineering and management services.

Positive

• CPI Aero is a Tier 1 supplier to aircraft OEMs and a prime contractor to the Department of Defense.

Negative

• Postponement of the annual meeting may create uncertainty among shareholders.

EDGEWOOD, N.Y., June 11, 2021 (GLOBE NEWSWIRE) -- CPI Aerostructures, Inc. (“CPI Aero^®” or the “Company”) (NYSE American: CVU) today announced that it has determined to postpone the Company’s annual meeting of stockholders that was originally scheduled for 9:00 a.m., Eastern Time, on June 25, 2021. At a later date, the board of directors of the Company will determine a new record date for the annual meeting and will publicly disclose the new date, time, and location of the annual meeting. The Company will also file a revised proxy statement with the Securities and Exchange Commission.

About CPI Aero

CPI Aero is a U.S. manufacturer of structural assemblies for fixed wing aircraft, helicopters and airborne Intelligence Surveillance and Reconnaissance pod systems in both the commercial aerospace and national security markets. Within the global aerostructure supply chain, CPI Aero is either a Tier 1 supplier to aircraft OEMs or a Tier 2 subcontractor to major Tier 1 manufacturers. CPI also is a prime contractor to the U.S. Department of Defense, primarily the Air Force. In conjunction with its assembly operations, CPI Aero provides engineering, program management, supply chain management, and MRO services. CPI Aero is included in the Russell Microcap® Index.

CPI Aero® is a registered trademark of CPI Aerostructures, Inc. For more information, visit www.cpiaero.com, and follow us on Twitter @CPIAERO.

Contact:
Investor Relations Counsel:
LHA Investor Relations
Jody Burfening
(212) 838-3777
cpiaero@lhai.com
www.lhai.com

FAQ

Why was CPI Aerostructures' annual meeting postponed?

CPI Aerostructures postponed its annual stockholders' meeting to determine a new record date for the event.

When was the original date for CPI Aerostructures' annual meeting?

The original date for the annual meeting was June 25, 2021.

What will CPI Aerostructures do following the postponement?

CPI Aerostructures will publicly disclose the new date, time, and location of the annual meeting and file a revised proxy statement with the SEC.

What is CPI Aerostructures' role in the aerospace industry?

CPI Aerostructures manufactures structural assemblies for fixed wing aircraft, helicopters, and provides services in the aerospace and national security markets.

What does CPI Aerostructures' postponement mean for investors?

The postponement may create uncertainty among investors regarding corporate governance and shareholder decisions.