secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2026-09-04T20:33:24+00:00
Accession:  0000353184-26-000098
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T amends Alerus credit facility: revolver raised to $25M, term loans consolidated
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- Revolving credit commitment increased from $20M to $25M; maturity extended to Aug 27, 2029.
- Consolidated Term Note of $11.46M consolidates Term Loan A, C, and overline loans; monthly payments $95,500 through Aug 2029, then $119,375 through Aug 2031.
- Borrowing base revised: 85% investment-grade accounts, 80% other accounts, 50% inventory, 40% WIP; inventory+WIP capped at 75% of base.
- Accordion option: up to $3.5M for one 120-day period per fiscal year, with 0.50% origination fee.
- Interest: SOFR + margin (initial 2.50%, range 2.25-2.75%); leverage ratio max 3.00:1.00; unused fee 0.25%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318426000098/0000353184-26-000098-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318426000098/airt-20260904.htm
  HTML page:      https://secwatch.observer/filing/0000353184-26-000098

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