{"schema_version":"secwatch.filing_event.v1","accession":"0000353184-25-000135","form_type":"8-K","ticker":"AIRT","cik":"0000353184","company_name":"AIR T INC","filed_at":"2025-12-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:41.740172+00:00","generated_at":"2026-05-16T15:57:14.162051+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Air T secures $6M term loan and $15M revolver from Alerus Financial","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0000353184-25-000135","json":"https://secwatch.observer/filing/0000353184-25-000135.json","markdown":"https://secwatch.observer/filing/0000353184-25-000135.md","text":"https://secwatch.observer/filing/0000353184-25-000135.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/353184/000035318425000135/0000353184-25-000135-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/353184/000035318425000135/airt-20251201.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T15:57:14.162051+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0464c01402dbfdd3f74a6c9f2f8403501209723f","claim":"AIR T INC amended guarantee of $2,000,000 with Alerus Financial, National Association.","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/353184/000035318425000135/0000353184-25-000135-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"guarantee"},{"label":"Principal","value":"$2,000,000"},{"label":"Counterparty","value":"Alerus Financial, National Association"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"21569d2de9743b8a5b37b01047f529ebab31c933","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/353184/000035318425000135/0000353184-25-000135-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$15,000,000"},{"label":"Counterparty","value":"Alerus Financial, National Association"},{"label":"Rate","value":"1-month SOFR plus 3.11%"},{"label":"Maturity","value":"November 24, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"53e6894b3b4b280d1aed1d093d59921bf297cded","claim":"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.","evidence_excerpt":".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.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/353184/000035318425000135/0000353184-25-000135-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$6,000,000"},{"label":"Counterparty","value":"Alerus Financial, National Association"},{"label":"Rate","value":"the greater of 5.0% or 1.90% plus the CME one-month term SOFR rate"},{"label":"Maturity","value":"November 24, 2032"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}