Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
AIR T INC incurred senior notes of $15,000,000 with Honeywell Common Investment Fund and Honeywell International Inc. Master Retirement Trust at 8.5% maturing February 22, 2031.
- Instrument
- senior notes
- Principal
- $15,000,000
- Counterparty
- Honeywell Common Investment Fund and Honeywell International Inc. Master Retirement Trust
- Rate
- 8.5%
- Maturity
- February 22, 2031
- Event
- incurrence
Exact text from the filing
On February 22, 2024 (the “Closing Date”), Air T, Inc., a Delaware corporation (the “Company”), along with its wholly owned subsidiary AAM 24-1, LLC, a Minnesota limited liability company (the “Issuer”), entered into a Note Purchase Agreement (the “Note Purchase Agreement”) with Honeywell Common Investment Fund and Honeywell International Inc. Master Retirement Trust (each, an “Investor” and together, the “Investors”) pursuant to which the Issuer agreed to issue and sell 8.5% senior secured notes in the aggregate principal amount of $15,000,000 to the Investors (each a “Note” and collectively, the “Notes”; and the transaction, “Financing”), for an aggregate purchase price of $14,850,000.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
AIR T INC entered into Note Purchase Agreement with Honeywell Common Investment Fund and Honeywell International Inc. Master Retirement Trust valued at $15,000,000 (effective 2024-02-22).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- Honeywell Common Investment Fund and Honeywell International Inc. Master Retirement Trust
- Value
- $15,000,000
- Effective
- 2024-02-22
Exact text from the filing
On February 22, 2024 (the “Closing Date”), Air T, Inc., a Delaware corporation (the “Company”), along with its wholly owned subsidiary AAM 24-1, LLC, a Minnesota limited liability company (the “Issuer”), entered into a Note Purchase Agreement (the “Note Purchase Agreement”) with Honeywell Common Investment Fund and Honeywell International Inc. Master Retirement Trust (each, an “Investor” and together, the “Investors”) pursuant to which the Issuer agreed to issue and sell 8.5% senior secured notes in the aggregate principal amount of $15,000,000 to the Investors
View on SEC.gov