---
schema_version: "secwatch.filing_event.v1"
accession: "0000353184-24-000108"
form_type: "8-K"
ticker: "AIRT"
cik: "0000353184"
company_name: "AIR T INC"
filed_at: "2024-08-30T23:59:59+00:00"
generated_at: "2026-05-31T06:53:08.861404+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Air T enters $14M secured credit facility with Alerus Financial, replaces prior debt

## Summary
- New $14M revolving credit facility plus $10.72M Term Note A and $2.28M Term Note B.
- Revolver matures Feb 2026; term loans mature Aug 2029; interest = greater of 5% or SOFR+2%.
- Borrowing base limits revolver; financial covenants: debt service coverage ≥1.25x, leverage ≤3.00x.
- Proceeds used to repay existing Minnesota Bank & Trust facility; no termination penalties incurred.
- Collateral includes substantially all current assets, a brokerage account, and 4.626 acres in NC.

## SEC filing metadata
- accession: 0000353184-24-000108
- form_type: 8-K
- ticker: AIRT
- cik: 0000353184
- company_name: AIR T INC
- filed_at: 2024-08-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/353184/000035318424000108/0000353184-24-000108-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/353184/000035318424000108/airt-20240830.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000353184-24-000108
- JSON: https://secwatch.observer/filing/0000353184-24-000108.json
- Plain text: https://secwatch.observer/filing/0000353184-24-000108.txt

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