AIR T INC 8K

Air T, Inc. and its subsidiaries amended their credit facility with Alerus to consolidate term debt, replace the overline with a limited $3.5 million accordion feature, refine the borrowing base and fees, and reset key leverage and pricing terms effective September 1, 2026.

On September 1, 2026, Air T, Inc., as loan party agent and guarantor for its operating subsidiaries (including Air’Zona Aircraft Services, CSA Air, Global Ground Support, Jet Yard entities, Mountain Air Cargo, Worldwide Aircraft Services, Royal Aircraft Services and Worthington Aviation), entered into Amendment No. 7 to its existing Credit Agreement with Alerus Financial, National Association, which (i) terminates the prior Overline Commitment and related overline loans, (ii) establishes a new $3.5 million short‑term revolving “Accordion Commitment” available for a single 120‑day period in each fiscal year subject to specified conditions, (iii) consolidates existing Term Loan A, Term Loan C and outstanding overline loans into a single $11.46 million Consolidated Term Loan with a stated maturity of August 27, 2031, (iv) maintains a $25 million Revolving Credit Commitment with a revised borrowing base and an unused commitment fee of 0.25% on undrawn revolver capacity, (v) introduces a leverage‑ratio‑based applicable margin grid (initially 2.50% over the index, with margin between 2.25%–2.75%) and tightens the maximum permitted leverage ratio to 3.00:1.00, and (vi) adds related documentation changes (new notes, borrowing base certificate, accordion option mechanics, GGS Federal Assignment of Claims Agreement) and reaffirmations, representations and releases in favor of the lender as conditions to the amendment’s effectiveness.

Filing Facts

CIK

353184

Ticker

-

Form

8K

Source Type

sec

Accession

0000353184-26-000098

Alert Tier

7