Air T Inc. Signs Material Definitive Agreement
Ticker: AIRTP · Form: 8-K · Filed: Jan 22, 2025 · CIK: 353184
Sentiment: neutral
Topics: material-definitive-agreement, filing
Related Tickers: AIRT
TL;DR
AIRT signed a big deal, filing shows details.
AI Summary
Air T Inc. entered into a material definitive agreement on January 21, 2025. The filing also includes financial statements and exhibits related to this agreement. The company is based in Charlotte, NC, and operates in the air courier services industry.
Why It Matters
This filing indicates a significant new contract or partnership for Air T Inc., which could impact its future revenue and operational scope.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities, the specifics of which are not detailed in this initial 8-K filing.
Key Players & Entities
- AIR T INC (company) — Filer
- January 21, 2025 (date) — Date of earliest event reported
- Charlotte, NC (location) — Company Business Address
- AIR COURIER SERVICES (industry) — Standard Industrial Classification
FAQ
What type of material definitive agreement did Air T Inc. enter into?
The filing states that Air T Inc. entered into a 'Material Definitive Agreement' but does not specify the nature of the agreement in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated January 21, 2025.
What is Air T Inc.'s Standard Industrial Classification?
Air T Inc.'s Standard Industrial Classification is 'AIR COURIER SERVICES [4513]'.
Where is Air T Inc. headquartered?
Air T Inc.'s business address is located at 11020 David Taylor Drive, Suite 305, Charlotte, NC 28262.
What other information is included in this filing besides the material definitive agreement?
The filing also includes 'Financial Statements and Exhibits'.
Filing Stats: 701 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2025-01-22 16:37:50
Filing Documents
- airt-20250122.htm (8-K) — 30KB
- airtandalerusamendmentno.htm (EX-10.1) — 3KB
- airtandalerusamendmentno001.jpg (GRAPHIC) — 185KB
- airtandalerusamendmentno002.jpg (GRAPHIC) — 219KB
- airtandalerusamendmentno003.jpg (GRAPHIC) — 259KB
- airtandalerusamendmentno004.jpg (GRAPHIC) — 150KB
- airtandalerusamendmentno005.jpg (GRAPHIC) — 84KB
- airtandalerusamendmentno006.jpg (GRAPHIC) — 101KB
- airtandalerusamendmentno007.jpg (GRAPHIC) — 39KB
- airtandalerusamendmentno008.jpg (GRAPHIC) — 43KB
- 0000353184-25-000002.txt ( ) — 1685KB
- airt-20250122.xsd (EX-101.SCH) — 3KB
- airt-20250122_def.xml (EX-101.DEF) — 15KB
- airt-20250122_lab.xml (EX-101.LAB) — 27KB
- airt-20250122_pre.xml (EX-101.PRE) — 16KB
- airt-20250122_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement On January 21, 2025, Air T, Inc., a Delaware corporation, as Loan Party Agent and Guarantor (the "Company") and twelve of the Company's subsidiaries entered into Amendment No. 1 to Credit Agreement and Other Loan Documents ("Amendment No. 1") with Alerus Financial, National Association (the "Lender"). Amendment No. 1 extends the term of the revolving credit agreement from February 28, 2026 to August 28, 2026. All other terms of the Credit Agreement and other Loan Documents remain the same. The description above is only a summary of the material provisions of the Amendment No. 1 and is qualified in its entirety by reference to the complete text of such document a copy of which are attached hereto as Exhibit 10.1 to this current report on Form 8-K and incorporated by reference herein.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits 10.1 Amendment No. 1 to Credit Agreement and Other Loan Documents dated as of January 21, 2025 by and among AirCo, LLC, a North Carolina limited liability company, Airco 2, LLC, a Kansas limited liability company, Air'Zona Aircraft Services, Inc., an Arizona corporation, AirCo Services, LLC, a North Carolina limited liability company, CSA Air, Inc., a North Carolina corporation, Global Ground Support, LLC, a North Carolina limited liability company, Jet Yard, LLC, an Arizona limited liability company, Jet Yard Solutions, LLC, an Arizona limited liability company, Mountain Air Cargo, Inc., a North Carolina corporation, Stratus Aero Partners LLC, a Delaware limited liability company, Worldwide Aircraft Services, Inc., a Kansas corporation, and Worthington Aviation, LLC, a North Carolina limited liability company, as Borrowers, Air T, Inc. as Loan Party Agent and Alerus Financial, National Association. 104 Inline XBRL for the cover page of this Current Report on Form 8-K.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: January 22, 2025 AIR T, INC. By: /s/ Tracy Kennedy Tracy Kennedy, Chief Financial Officer