Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 360

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 8
Chunk 360
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 + 3.56%21,873Limited recourse4Term Loan G - ONB5— 14,918 11/24/20251-month SOFR + 3.11%Limited recourse3Term Note I - ONB5— 10,000 9/28/20251-month SOFR + 3.11%Limited recourse3Term Note J - ONB8,750 — 9/12/20281-month SOFR + 3.86%Limited recourse3Total11,877 28,394 Wolfe Lake DebtTerm Loan - Bridgewater9,059 9,327 12/2/20313.65%Non-recourseTotal9,059 9,327 Air T Acquisition 22.1Term Loan - Bridgewater3,500 4,000 2/8/20274.00%Non-recourseTerm Loan A - ING1,298 1,946 2/1/20273.50%Non-recourseTerm Loan B - ING1,082 1,081 5/1/20274.00%Non-recourseTotal5,880 7,027 WASI Debt

3 Term Loan - PSB was fully paid off prior to the maturity date.

4 Includes Air T's guarantee of approximately $1.6 million.

5 Term Loan G - ONB and Term Note I - ONB were fully paid off prior to their respective maturity dates.

72

Promissory Note - Seller's Note398 849 1/1/20266.00%Non-recourseTotal398 849 AAM 24-1 DebtPromissory Notes - Institutional Investors30,000 15,000 3/1/20318.50%Non-recourseTotal30,000 15,000 MAC DebtTerm Loan - BofA2,271 — 2/21/20301-month SOFR + 0.11% + 1.75%Non-recourseTotal2,271 — Total Debt110,704 113,459 Unamortized Premiums and Debt Issuance Costs(379)(533)Total Debt, net$110,325 $112,926 Fiscal year 2025's weighted average interest rate on short term borrowings outstanding was 7.68%. The weighted average interest rate on short term borrowings outstanding as of March 31, 2024 was 8.88