secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2025-12-18T23:59:59+00:00
Accession:  0000353184-25-000140
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T completes acquisition of Australian regional airline Rex for $1 plus ~A$108M liabilities
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- Acquired all outstanding stock of Regional Express Holdings (Rex) for $1 cash and assumption of ~A$108M liabilities; court-approved Dec 11, 2025.
- Issued US$40M 11.5% senior secured note to Honeywell funds due 2031 to finance A$50M credit facility for Rex at 12% interest.
- Commonwealth of Australia remains secured creditor with ~A$108M perpetual facility and provides additional A$60M for fleet overhaul.
- Rex currently operates ~31 Saab 340 aircraft; plans to increase to 45 within two years using new financing.
- Warrants issued to three executives for up to 19% equity in acquisition subsidiary with nominal exercise price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318425000140/0000353184-25-000140-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318425000140/airt-20251218.htm
  HTML page:      https://secwatch.observer/filing/0000353184-25-000140

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