Company: AIRTP
Filing Date: 2025-08-12
Form Type: 10-K/A
Source: 0000353184-25-000069
Chunk: 132

Company: AIR T INC
Filing Date: 2025-08-12
Form: 10-K/A
Chunk 132
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 RNCI  |     |               |  -234 |     |               |      — |     |       |   -234 |
| Redemption value adjustments                         |     |               |   -36 |     |               |      — |     |       |    -36 |
| Redemption of non-controlling interests              |     |               |     — |     |               | -5,899 |     |       | -5,899 |
| Ending Balance as of  March 31, 2025                 |     | $             | 5,176 |     | $             |  1,878 |     | $     |  7,054 |

<div align='center'>90</div>

Crestone Asset Management, LLC and CJVII, LLC

For CAM's Investment Function, as described in Note 9 , CAM's initial commitment to CJVII was approximately $ 51.0million. The Company and MRC have commitments to CAM in the respective amounts of $ 7.0million and $ 44.0million. These represent the investor interests of CAM, separate and distinct from the common interests. Any investment returns on CAM’s investor interests are shared pro-rata between the Company and MRC for each individual investment at the CJVII Series. Per its Operating Agreement, CAM is comprised of only twoSeries: the Onshore and the Offshore Series. Participation in each is determined solely based on whether a potential investment at the CJVII Series is a domestic (Onshore) or international (Offshore) investment. As of March 31, 2025, for its Investment Function, the Company has contributed $ 17.6million to CAM’s Offshore Series and $ 1.0million to CAM’s Onshore Series. The Company fulfilled its Investment Function initial commitment to CAM in fiscal year 2023.

In connection with the formation of CAM, MRC had a fixed price put optionof $ 1.0million to sell its common equity in CAM to the Company at each of the first three ( 3) anniversary date. The fixed price put option expired on May 5, 2024. At the later of (a) five ( 5) years after execution of the agreement and (b) distributions to MRC per the waterfall equal to their capital contributions, Air T has a call option and MRC has a put option on the MRC common interests in CAM ("secondary put and call option"). If either party exercises the option