secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K/A
Filed at:   2026-03-04T23:59:59+00:00
Accession:  0000353184-26-000024
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T completes acquisition of Regional Express Holdings (Rex) for $1; Rex reports $114.6M loss, negative equity
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- Rex audited FY25 loss after tax of $114.6M; revenue $305.2M; net liabilities of $161.3M at June 30, 2025.
- Acquisition closed Dec 17, 2025 for nominal $1 consideration; Air T provided $50M facility with 5-yr term at 12% interest.
- Commonwealth loan of $147.6M restructured: $39.8M forgiven, balance $107.8M converted to 30-yr interest-free facility.
- Rex entered voluntary administration July 30, 2024; exited Dec 18, 2025 via DOCA extinguishing legacy creditor claims.
- Rex Airlines (domestic jets) placed into liquidation Nov 11, 2025; Rex now focused on regional flight services.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318426000024/0000353184-26-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318426000024/airt-20260304.htm
  HTML page:      https://secwatch.observer/filing/0000353184-26-000024

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