secwatch.observer — SEC 8-K summary
======================================

Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2023-06-02T23:59:59+00:00
Accession:  0000353184-23-000058
Event type: debt
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T subsidiaries amend loan agreements to replace LIBOR with SOFR-based rates
-------------------------------------------------------------------------------

- Contrail Aviation Support and Leasing amended $38.18M term loan to use 1-month SOFR + 3.11448%.
- Revolving credit facility of $25M switched to SOFR + 3.56448%; all other terms unchanged.
- AirCo 1 amended $6.39M loan with Park State Bank to use 3-month SOFR + 3.26161%.
- No changes to principal amounts, maturity dates, or loan covenants.
- Amendments effective May 26, 2023; executed by subsidiaries, not Air T directly.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318423000058/0000353184-23-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318423000058/airt-20230602.htm
  HTML page:      https://secwatch.observer/filing/0000353184-23-000058

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer