---
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"
generated_at: "2026-06-20T00:32:41.185100+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Air T acquires Worldwide Aircraft Services for $3.08M; funds part with $1M term loan

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000353184-23-000006
- JSON: https://secwatch.observer/filing/0000353184-23-000006.json
- Plain text: https://secwatch.observer/filing/0000353184-23-000006.txt

## Key facts
- Debt Financings
  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
  source text: Amendment No. 2 provides for a new term loan ("Term Loan F") in the amount of $1,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/0000353184-23-000006-index.htm
- M&A Transactions
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/0000353184-23-000006-index.htm
- Material Agreements
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/0000353184-23-000006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.