Air T Inc. Amends Lendway Stake Filing

Ticker: TULP · Form: SC 13D/A · Filed: Oct 1, 2024 · CIK: 875355

Lendway, Inc. SC 13D/A Filing Summary
FieldDetail
CompanyLendway, Inc. (TULP)
Form TypeSC 13D/A
Filed DateOct 1, 2024
Risk Levelmedium
Pages14
Reading Time17 min
Key Dollar Amounts$0.01, $7,371,211, $2,500,000, $3,500,000
Sentimentneutral

Sentiment: neutral

Topics: ownership-change, amendment, sec-filing

Related Tickers: LNDW

TL;DR

AIRT filing update on LNDW - ownership changes incoming.

AI Summary

Air T Inc. has amended its Schedule 13D filing regarding Lendway, Inc. (formerly Insignia Systems Inc./MN). The filing, dated October 1, 2024, indicates a change in the reporting person's beneficial ownership. Air T Inc. previously held a significant stake and this amendment likely reflects ongoing or updated information about their holdings or intentions concerning Lendway, Inc.

Why It Matters

This filing update from Air T Inc. signals potential shifts in control or strategy for Lendway, Inc., which could impact its stock price and future business operations.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, which can introduce volatility.

Key Players & Entities

  • LENDWAY, INC. (company) — Subject Company
  • AIR T INC (company) — Filing Party
  • INSIGNIA SYSTEMS INC/MN (company) — Former Company Name of Lendway, Inc.

FAQ

What specific changes in beneficial ownership are detailed in this Amendment No. 18?

The filing is an amendment to a Schedule 13D, indicating changes in beneficial ownership, but the specific details of the changes are not fully provided in the excerpt.

When was this amendment filed with the SEC?

This amendment was filed as of October 1, 2024.

What is the former name of Lendway, Inc.?

The former name of Lendway, Inc. was Insignia Systems Inc./MN.

What is the primary business of Air T Inc.?

Air T Inc. is primarily involved in Air Courier Services, with a SIC code of 4513.

What is the business address of Lendway, Inc.?

The business address of Lendway, Inc. is 5000 WEST 36TH STREET, SUITE 220, MINNEAPOLIS, MN 55416.

Filing Stats: 4,140 words · 17 min read · ~14 pages · Grade level 10.2 · Accepted 2024-10-01 16:30:29

Key Financial Figures

  • $0.01 — e of Issuer) Common Stock, par value of $0.01 per share (Title of Class of Securities
  • $7,371,211 — rokerage commissions, was approximately $7,371,211 in the aggregate. The source of these f
  • $2,500,000 — e with Air T in the principal amount of $2,500,000. Pursuant to the terms of the Note, the
  • $3,500,000 — pal amount of the note was increased to $3,500,000. To the extent the actions described he

Filing Documents

From the Filing

SC 13D/A 1 a29845454-v1xamendmentno.htm SC 13D/A a29845454-v1xamendmentno UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 18) LENDWAY, INC. (Name of Issuer) Common Stock, par value of $0.01 per share (Title of Class of Securities) 45765Y204 (CUSIP Number) Air T, Inc. 11020 David Taylor Drive, Suite 305 Charlotte, North Carolina 28262 Telephone: (980) 595-2840 (Name, Address and Telephone Number of Persons Authorized to Receive Notices and Communications) - with copy to- Philip T. Colton Winthrop & Weinstine, P.A. 225 South Sixth Street Suite 3500 Minneapolis, Minnesota 55402 (612) 604-6500 September 27, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. CUSIP NO. 45765Y204 Page 2 of 16 Pages 1 NAME OF REPORTING PERSON Air T, Inc. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Minnesota NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 486,819 8 SHARED VOTING POWER 0 9 SOLE DISPOSITIVE POWER 486,819 10 SHARED DISPOSITIVE POWER 0 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 486,819* 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 27.5% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO * Reflects the seven-for-one reverse stock split that the Company implemented effective December 31, 2020. CUSIP NO. 45765Y204 Page 3 of 16 Pages 1 NAME OF REPORTING PERSON Groveland Capital LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 60,284 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 60,284 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 60,284* 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.4% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO * Reflects the seven-for-one reverse stock split that the Company implemented effective December 31, 2020. CUSIP NO. 45765Y204 Page 4 of 16 Pages 1 NAME OF REPORTING PERSON AO Partners I, L.P. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 139,444 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 139,444 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 139,444* 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN * Reflects the seven-for-one reverse stock split that the Company implemented effective December 31, 2020. CUSIP NO. 45765Y204 Page 5 of 16 Pages 1 NAME OF REPORTING PERSON AO Partners, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7 SOLE VOTING POWER 0 8 SHARED VOTING POWER 139,444 9 SOLE DISPOSITIVE POWER 0 10 SHARED DISPOSITIVE POWER 139,444 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 139,444* 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.9% 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO * Reflects the seven-for-one reverse stock split that the Company implemented effective December 31, 2020. CUSIP NO. 45765Y204 Page 6 of 16 Pages 1 NAME OF REPORTING PERSON Glenhurst Co. 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) (b) 3 SEC USE ONLY 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) WC 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d)

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