Company: AIRTP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0000353184-25-000073
Chunk: 23

Company: AIR T INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 23
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 all of the issued and outstanding capital stock of the Issuer owned by the Company, and the 320,000 Trust Preferred Securities, held by the Issuer.The following table provides certain information about the current financing arrangements of the Company and its subsidiaries (other than related party obligations) as of June 30, 2025:(In Thousands)June 30,2025March 31,2025Maturity DateInterest RateUnused commitments as of June 30, 2025Type of DebtAir T Debt

27

Debt - Trust Preferred Securities1$35,450 $35,342 6/7/20498.00%RecourseTotal35,450 35,342 Alerus Loan Parties DebtRevolver - Alerus12,924 6,050 8/28/2026Greater of 5.00% or 1-month SOFR + 2.00%$1,076 RecourseOverline Note - Alerus— — 10/31/2025Greater of 5.00% or 1-month SOFR + 2.00%3,000 RecourseTerm Note A - Alerus9,444 9,827 8/15/2029Greater of 5.00% or 1-month SOFR + 2.00%RecourseTerm Note C - Alerus1,038 — 5/15/2030Greater of 5.00% or 1-month SOFR + 2.25%RecourseTotal23,406 15,877 Contrail DebtRevolver - ONB18 3,127 11/24/20251-month SOFR + 3.56%24,982 Limited recourse2Term Note J - ONB8,125 8,750 9/12/20281-month SOFR + 3.86%Limited recourse2Total8,143 11,877 Wolfe Lake DebtTerm Loan - Bridgewater8,989 9,059 12/2/20313.65%Non-recourseTotal8,989 9,059 Air T Acquisition 22.1Term Loan - Bridgewater3,500 3,500 2/8/20274.00%Non-recourseTerm Loan A - ING1,231 1,298 2/1/20273.50%Non-recourseTerm Loan B - ING1,172