Air T enters ATM agreement to sell up to $8M of 8% Cumulative Capital Securities

AIR T FUNDING

Air T Funding may sell up to $8,000,000 of Alpha Income Preferred Securities (8% cumulative) through Ascendiant Capital Markets.
Sales agent receives 3.0% commission on gross proceeds; sales at market prices on NASDAQ under Rule 415.
Trust has no obligation to sell; offering may be suspended or terminated at any time.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

AIR T FUNDING entered into At the Market Offering Agreement with Ascendiant Capital Markets, LLC valued at up to $8,000,000 (effective 2024-04-24).

Action: entry
Agreement: atm program
Counterparty: Ascendiant Capital Markets, LLC
Value: up to $8,000,000
Effective: 2024-04-24

Exact text from the filing

On April 24, 2024, Air T, Inc. (the “Company”) and Air T Funding (the “Trust”) entered into an At the Market Offering Agreement (the “ATM Agreement”) with Ascendiant Capital Markets, LLC (the “sales agent” or “Ascendiant”), pursuant to which the Trust may sell and issue its Alpha Income Preferred Securities having an aggregate offering price of up to $8,000,000 (the “Capital Securities”) from time to time through Ascendiant, as the Trust’s sales agent (the “ATM Offering”).

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Source: SEC EDGAR

accession 0001104659-24-051990

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