secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2023-09-05T23:59:59+00:00
Accession:  0000353184-23-000113
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T subsidiary extends $25M revolving credit facility to November 2025
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- Contrail Aviation Support (79%-owned Air T subsidiary) amended $25M revolver with Old National Bank.
- Maturity extended to November 24, 2025; facility size and interest rate (1M SOFR + 3.56448%) unchanged.
- Change-in-control default provision revised: default triggered if CEO Joe Kuhn (or acceptable CEO) leaves or stops overseeing operations.
- $50,000 renewal fee paid; no new borrowings; terms otherwise substantially the same.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318423000113/0000353184-23-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318423000113/airt-20230905.htm
  HTML page:      https://secwatch.observer/filing/0000353184-23-000113

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