{"schema_version":"secwatch.filing_event.v1","accession":"0000353184-23-000006","form_type":"8-K","ticker":"AIRT","cik":"0000353184","company_name":"AIR T INC","filed_at":"2023-02-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.626927+00:00","generated_at":"2026-06-20T00:32:41.185100+00:00","sec_items":["1.01","2.01","2.03","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Air T acquires Worldwide Aircraft Services for $3.08M; funds part with $1M term loan","bullets":["Acquired all stock of Worldwide Aircraft Services (MRO) for $3,078,021; $1.628M cash at close, balance at 6% due by Jan 2026.","New $1M term loan (Term Loan F) from MBT at greater of 6% or prime+1%; monthly principal $16,667, due Jan 31, 2028.","Worldwide joined Guaranty and Security Agreement; acquisition deemed not material per Item 2.01."],"urls":{"canonical":"https://secwatch.observer/filing/0000353184-23-000006","json":"https://secwatch.observer/filing/0000353184-23-000006.json","markdown":"https://secwatch.observer/filing/0000353184-23-000006.md","text":"https://secwatch.observer/filing/0000353184-23-000006.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/0000353184-23-000006-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/airt-20230206.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T00:32:41.185100+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d84a07c94b1acde28df90ac9ea264c6f4a3397d4","claim":"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.","evidence_excerpt":"Amendment No. 2 provides for a new term loan (\"Term Loan F\") in the amount of $1,000,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/0000353184-23-000006-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$1,000,000"},{"label":"Counterparty","value":"Minnesota Bank & Trust, a division of HTLF Bank, successor by merger with MBT"},{"label":"Rate","value":"the greater of six percent (6%) or the prime rate plus one percent (1%)"},{"label":"Maturity","value":"January 31, 2028"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"479a731cbdb188f198e26d46cca55372963b7c10","claim":"AIR T INC completed an acquisition involving Worldwide Aircraft Services, Inc. for $3,078,021 (closed 2023-01-31).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/0000353184-23-000006-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Worldwide Aircraft Services, Inc."},{"label":"Consideration","value":"$3,078,021"},{"label":"Closing","value":"2023-01-31"}],"fact_type":"ma_transaction"},{"claim_id":"43bd0cace68abd1cf9baafbece0f0dc4d8216d73","claim":"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).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/0000353184-23-000006-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Minnesota Bank & Trust, a division of HTLF Bank, successor by merger with MBT"},{"label":"Value","value":"$1,000,000"},{"label":"Effective","value":"2023-01-31"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}