Company: AIRTP
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0000353184-25-000099
Chunk: 11

Company: AIR T INC
Filing Date: 2025-08-15
Form: 424B5
Chunk 11
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 equal to the aggregate liquidation amount of the Capital Securities plus accumulated and unpaid distributions thereon to the date of redemption. The Junior Subordinated Debentures are redeemable prior to maturity at the option of Air T (i) on or after June 7, 2024, in whole at any time or in part from time to time, or (ii) at any time, in whole (but not in part), upon the occurrence and during the continuance of a tax event or an investment company event, in each case at a redemption price equal to 100% of the principal amount of the Junior Subordinated Debentures so redeemed, together with any accrued but unpaid interest to the date fixed for redemption. |
| Distribution of Junior Subordinated Debentures |     | Air T has the right at any time to terminate the Trust and cause the Junior Subordinated debentures to be distributed to holders of Capital Securities in liquidation of the Trust.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

<div align='center'>S-3</div>

| Guarantee          |     | Taken together, Air T’s obligations under various documents described herein, including the Guarantee, provide a full guarantee of payments by the Trust of distributions and other amounts due on the Capital Securities. Under the Guarantee, Air T guarantees the payment of Distributions by the Trust and payments on liquidation of or redemption of the Capital Securities (subordinate to the right to payment of senior and subordinated debt of Air T, as defined herein) to the extent of funds held by the Trust. If the Trust has insufficient funds to pay distributions on the Capital Securities (i.e., if Air T has failed to make required payments under the Junior Subordinated Debentures), a holder of the Capital Securities would have the right to institute a legal proceeding directly against Air T to enforce payment of such distributions to such holder.                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| Ranking            |     | Generally, the Capital Securities will rankpari passu, and payments thereon will be made pro rata, with the Common Securities of the Trust held by Air T. The obligations of Air T under the Guarantee, the Junior Subordinated Debentures and other documents described herein are unsecured and rank subordinate and junior in right of payment to all current and future Senior and Subordinated Debt, the amount of which is unlimited. At June 30, 2025, the aggregate outstanding Senior and Subordinated Debt of Air T was approximately $88.4 million (which figure does not include the trust preferred