{"schema_version":"secwatch.filing_event.v1","accession":"0000353184-26-000035","form_type":"8-K/A","ticker":"AIRT","cik":"0000353184","company_name":"AIR T INC","filed_at":"2026-03-10T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.377529+00:00","generated_at":"2026-05-15T17:15:08.242086+00:00","sec_items":["1.01","8.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Air T amends 8-K to clarify Arena acquisition consideration and discloses potential minority investment in NewCo","bullets":["Air T, through Crestone, agreed to acquire Arena Aviation Partners for ~$20M cash plus contingent payments estimated >$10M, closing expected in ~2 months.","Crestone entered a non-binding term sheet for a $10M convertible preferred equity investment in NewCo at an $80M valuation, with earn-out up to $40M.","Crestone management is negotiating to invest up to 5% minority interest in NewCo, with terms not final."],"urls":{"canonical":"https://secwatch.observer/filing/0000353184-26-000035","json":"https://secwatch.observer/filing/0000353184-26-000035.json","markdown":"https://secwatch.observer/filing/0000353184-26-000035.md","text":"https://secwatch.observer/filing/0000353184-26-000035.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/353184/000035318426000035/0000353184-26-000035-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/353184/000035318426000035/airt-20260310.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud","generated_at":"2026-05-15T17:15:08.242086+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":"7c222550c0776f494785b6a58c77279e917c2fd0","claim":"AIR T INC entered into Share Purchase Agreement with Arena, the sellers party thereto (collectively, the \"Sellers\"), and Dirk Jan Smit, as Securityholders' Agent valued at approximately $20 million (effective 2026-03-08).","evidence_excerpt":"On March 8, 2026, the Company, through Crestone Air Partners, Inc. (the “ Purchaser ” or “ Crestone ”), entered into a Share Purchase Agreement (the “ Purchase Agreement ”) with Arena, the sellers party thereto (collectively, the “ Sellers ”), and Dirk Jan Smit, as Securityholders’ Agent, pursuant to which Purchaser agreed to acquire all of the outstanding shares of Arena.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/353184/000035318426000035/0000353184-26-000035-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Arena, the sellers party thereto (collectively, the \"Sellers\"), and Dirk Jan Smit, as Securityholders' Agent"},{"label":"Value","value":"approximately $20 million"},{"label":"Effective","value":"2026-03-08"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}