secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2023-02-06T23:59:59+00:00
Accession:  0000353184-23-000006
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/0000353184-23-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318423000006/airt-20230206.htm
  HTML page:      https://secwatch.observer/filing/0000353184-23-000006

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