Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
AIR T INC incurred term loan of $1,000,000 with Minnesota Bank & Trust, a division of HTLF Bank, successor by merger with MBT at the greater of six percent (6%) or the prime rate plus one percent (1%) maturing January 31, 2028.
- Instrument
- term loan
- Principal
- $1,000,000
- Counterparty
- Minnesota Bank & Trust, a division of HTLF Bank, successor by merger with MBT
- Rate
- the greater of six percent (6%) or the prime rate plus one percent (1%)
- Maturity
- January 31, 2028
- Event
- incurrence
Exact text from the filing
Amendment No. 2 provides for a new term loan ("Term Loan F") in the amount of $1,000,000
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M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
AIR T INC completed an acquisition involving Worldwide Aircraft Services, Inc. for $3,078,021 (closed 2023-01-31).
- Action
- acquisition
- Counterparty
- Worldwide Aircraft Services, Inc.
- Consideration
- $3,078,021
- Closing
- 2023-01-31
Exact text from the filing
On January 31, 2023, Air T, Inc. (“Company”) acquired all of the issued and outstanding common stock of Worldwide Aircraft Services, Inc., a Kansas corporation (“Worldwide”) for $3,078,021.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AIR T INC entered into Amendment No. 2 to the Third Amended and Restated Credit Agreement with Minnesota Bank & Trust, a division of HTLF Bank, successor by merger with MBT valued at $1,000,000 (effective 2023-01-31).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Minnesota Bank & Trust, a division of HTLF Bank, successor by merger with MBT
- Value
- $1,000,000
- Effective
- 2023-01-31
Exact text from the filing
Amendment No. 2 provides for a new term loan (“Term Loan F”) in the amount of $1,000,000 to help finance a portion of the consideration paid by the Company for Worldwide.
View on SEC.gov