secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2025-04-04T23:59:59+00:00
Accession:  0000353184-25-000017
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T adds $3M overline credit facility for seasonal needs; releases four borrowers from Alerus agreement
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- Added $3,000,000 overline revolving loan with Alerus, maturing October 31, 2025; interest at greater of 5% or SOFR + 2%.
- Four borrowers (AirCo, Airco2, AirCo Services, Stratus Aero) released from credit agreement; remaining borrowers assume obligations.
- Amended and restated revolving credit note to $14,000,000; overall borrowing base formula unchanged.
- Seasonal facility covers peak borrowing period; amendment effective March 31, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318425000017/0000353184-25-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318425000017/airt-20250404.htm
  HTML page:      https://secwatch.observer/filing/0000353184-25-000017

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