---
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"
generated_at: "2026-05-15T17:15:08.242086+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Air T amends 8-K to clarify Arena acquisition consideration and discloses potential minority investment in NewCo

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 8.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000353184-26-000035
- JSON: https://secwatch.observer/filing/0000353184-26-000035.json
- Plain text: https://secwatch.observer/filing/0000353184-26-000035.txt

## Key facts
- Material Agreements
  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).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Arena, the sellers party thereto (collectively, the "Sellers"), and Dirk Jan Smit, as Securityholders' Agent
  - Value: approximately $20 million
  - Effective: 2026-03-08
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/353184/000035318426000035/0000353184-26-000035-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.