secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2024-10-22T23:59:59+00:00
Accession:  0000353184-24-000124
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T upsizes senior secured notes to $30M at 8.5% with Honeywell investors
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- Issuer AAM 24-1, LLC issued $30M 8.5% senior secured notes due March 1, 2031 to Honeywell funds.
- New $15M tranche added to existing $15M Original Financing from Feb 2024.
- Interest payable semi-annually at 8.5% on 30/360 basis; prepayment premiums of 2% (Year 1) and 1% (Year 2).
- Collateral includes all Issuer capital stock, existing 160K AIRTP shares, plus 160K newly issued AIRTP shares.
- Maturity extended to March 2031; original notes had Feb 2031 maturity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318424000124/0000353184-24-000124-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318424000124/airt-20241022.htm
  HTML page:      https://secwatch.observer/filing/0000353184-24-000124

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