secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2025-06-02T23:59:59+00:00
Accession:  0000353184-25-000030
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T subsidiary AAM 24-1 issues up to $100M 8.5% senior secured notes due 2035
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- New Multiple Advance Note replaces prior $30M notes; 8.5% interest, semi-annual, matures May 31, 2035.
- At closing $10M additional advanced, total $40M; remaining $60M in six $10M tranches through May 2027.
- Collateral unchanged: all capital stock of AAM 24-1 and 320,000 shares of Air T Funding preferred (AIRTP).
- Prepayment premiums: 2% if within 1 year, 1% if within 2 years; minimum partial prepayment $1M.
- Institutional investors are Honeywell Common Investment Fund and Honeywell International Inc. Master Retirement Trust.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318425000030/0000353184-25-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318425000030/airt-20250602.htm
  HTML page:      https://secwatch.observer/filing/0000353184-25-000030

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