AIR T INC. Files 8-K on Material Agreement and Financial Obligation

Ticker: AIRTP · Form: 8-K · Filed: Sep 5, 2025 · CIK: 353184

Sentiment: neutral

Topics: material-agreement, financial-obligation, 8-k

Related Tickers: AIRT

TL;DR

AIRT signed a big deal, now owes money. 8-K filed.

AI Summary

On September 5, 2025, AIR T INC. (AIRT) filed an 8-K to report the entry into a material definitive agreement and the creation of a direct financial obligation. The filing also includes financial statements and exhibits related to these events.

Why It Matters

This filing indicates AIR T INC. has entered into a significant agreement that creates a financial obligation, which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — The creation of a new financial obligation and entry into a material definitive agreement introduces potential financial risks that require further investigation.

Key Players & Entities

FAQ

What is the nature of the material definitive agreement entered into by AIR T INC.?

The filing indicates the entry into a material definitive agreement, but the specific details of the agreement are not provided in the provided text snippet.

What is the direct financial obligation created by AIR T INC.?

The filing states the creation of a direct financial obligation, but the specific amount and terms are not detailed in the provided text snippet.

When was this 8-K report filed?

The report was filed on September 5, 2025.

What are the former names of AIR T INC. mentioned in the filing?

The former names mentioned are AIR TRANSPORTATION HOLDING CO INC and ATLANTA EXPRESS AIRLINE CORP.

What is the SIC code for AIR T INC.?

The Standard Industrial Classification (SIC) code for AIR T INC. is 4513, which corresponds to AIR COURIER SERVICES.

Filing Stats: 1,070 words · 4 min read · ~4 pages · Grade level 9.4 · Accepted 2025-09-05 17:12:28

Key Financial Figures

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On September 3, 2025, Air'Zona Aircraft Services, Inc., CSA Air, Inc., Global Ground Support, LLC, Jet Yard, LLC, Jet Yard Solutions, LLC, Mountain Air Cargo, Inc., Royal Aircraft Services, LLC, Worldwide Aircraft Services, Inc., and Worthington Aviation, LLC (the "Borrowers") and Air T, Inc. (the "Guarantor") entered into a number of agreements with Alerus Financial, National Association ("Alerus") relating to the Alerus Revolving Credit Financing and Term Note A. The transactions included the following: (i) Amendment No. 5 to Credit Agreement ("Amendment No. 5") and Amended and Restated Revolving Credit Note . The Borrowers and Alerus entered into Amendment No. 5 to the revolving credit agreement and an Amended and Restated Revolving Credit Note. The principal changes of the amendments include the following: 1. The interest rate was decreased to 1-month SOFR plus 1.90%; 2. The maturity date was extended to August 28, 2027; 3. The revolving credit commitment to make revolving credit loans and to issue letters of credit was increased to an aggregate principal amount not to exceed $20,000,000; 4. The financial covenants are to be measured semi-annually at December and March of each year and the Borrowers are to deliver quarterly financial statements to Alerus; and, 5. The overline note provisions and note have been eliminated. i. Amended and Restated Term Note A and Swap Arrangement . Term Note A was amended and restated on September 3, 2025 by the Borrowers in the principal amount of $9,188,571.40. The maturity date remains August 15, 2029. The amended and restated note interest rate was revised to 1-month SOFR plus 2.00% and the Borrowers entered into a swap arrangement through the termination date of August 15, 2029 with respect to the amended and restated note. The fixed rate following the swap arrangement is 5.62%. i. The revolving credit agreement and note remain secured by the terms of Securit

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits 10.1 Amended and Restated Revolving Credit Note of the Borrowers in the amount of $20,000,000 to Alerus Financial, National Association dated as of September 3, 2025 10.2 Amendment No. 5 to Credit Agreement by and among Air'Zona Aircraft Services, Inc., CSA Air, Inc., Global Ground Support, LLC, Jet Yard, LLC, Jet Yard Solutions, LLC, Mountain Air Cargo, Inc., Worldwide Aircraft Services, Inc., Royal Aircraft Services, LLC and Worthington Aviation, LLC, Air T, Inc. and Alerus Financial, National Association effective as of September 3, 2025. 10.3 Amended and Restated Term Note A in the amount of $9,188,571.40 to Alerus Financial, National Association dated as of September 3, 2025. 10.4 Acknowledgment and Agreement of Air T, Inc. as to Amendment No. 5 to Credit Agreement dated September 3, 2025. 10.5 Unlimited Continuing Guaranty (Swap Transaction) of Air T, Inc. to and for the benefit of Alerus Financial, National Association entered into as of September 3, 2025.

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: September 5, 2025 AIR T, INC. By: /s/ Tracy Kennedy Tracy Kennedy, Chief Financial Officer

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