AIR T INC (AIRT): debt financing — Air T secures $6M term loan and $15M revolver from Alerus Financial

AIR T INC

22.1 subsidiary obtains $6M term loan due Nov 2032 at greater of 5% or 1.9%+SOFR; proceeds repay $3.5M Bridgewater Bank loan.
Contrail entities obtain $15M revolving credit facility at SOFR+3.11%, interest-only, maturing Nov 2027.
Loans secured by assets, membership interests, 200,000 AIRTP shares, and Air T, Inc. investment account.
Air T, Inc. provides up to $2M payment guaranty for Contrail facility; term loan requires $857,142.86 annual principal starting Sept 2026.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AIR T INC amended guarantee of $2,000,000 with Alerus Financial, National Association.

Instrument: guarantee
Principal: $2,000,000
Counterparty: Alerus Financial, National Association
Event: amendment

Exact text from the filing

the loan is secured by a payment guaranty of Air T, Inc, in an aggregate amount not to exceed $2,000,000 plus collection and collateral recovery costs.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AIR T INC incurred revolving credit of $15,000,000 with Alerus Financial, National Association at 1-month SOFR plus 3.11% maturing November 24, 2027.

Instrument: revolving credit
Principal: $15,000,000
Counterparty: Alerus Financial, National Association
Rate: 1-month SOFR plus 3.11%
Maturity: November 24, 2027
Event: incurrence

Exact text from the filing

Contrail entered into a Master Loan Agreement and Supplement No. 1 to Master Loan Agreement (collectively the “Master Loan Agreement”) with Alerus. The agreement provided for a $15,000,000 revolving loan facility that is evidenced by a Promissory Note Revolving Note dated November 24, 2025 in the principal amount of $15,000,000. The funds are to be used for the

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

AIR T INC incurred term loan of $6,000,000 with Alerus Financial, National Association at the greater of 5.0% or 1.90% plus the CME one-month term SOFR rate maturing November 24, 2032.

Instrument: term loan
Principal: $6,000,000
Counterparty: Alerus Financial, National Association
Rate: the greater of 5.0% or 1.90% plus the CME one-month term SOFR rate
Maturity: November 24, 2032
Event: incurrence

Exact text from the filing

.01 Entry into a Material Definitive Agreement Alerus Financial Financings On November 24, 2025, Air T Acquisition 22.1, LLC (“22.1”) and Contrail Aviation Services, LLC and Contrail Aviation Leasing, LLC (collectively “Contrail”) completed financings with Alerus Financial, National Association (“Alerus”). (a) 22.1 Term Loan On November 24, 2025, 22.1 entered into a $6,000,000 term loan with Alerus.

View on SEC.gov

311 debt financings filed in the last 30 days. Browse all debt financings →

AIR T INC filing history →

Source: SEC EDGAR

accession 0000353184-25-000135

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.