Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 266

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 8
Chunk 266
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/31/2024SOFR + range of 2.25% - 3.25%RecourseTerm Note A - MBT1— 6,955 8/31/20313.42%RecourseTerm Note B - MBT1— 2,456 8/31/20313.42%RecourseTerm Note D - MBT1— 1,271 1/1/20281-month LIBOR + 2.00%RecourseTerm Note F - MBT1— 783 1/31/2028Greater of 6.00% or Prime + 1.00%RecourseDebt - Trust Preferred Securities235,342 34,214 6/7/20498.00%RecourseTotal35,342 45,679 AirCo 1 Debt

1 The revolver and term notes with MBT were fully paid off with the proceeds from the new credit agreement with Alerus. The Company terminated all commitments under the credit facility with MBT as of August 29, 2024.

2 Does not include $13.0 million held by wholly-owned subsidiaries of the Company.

71

Term Loan - PSB3— 5,434 12/11/20253-month SOFR + 3.26%Non-recourseTotal— 5,434 Jet Yard DebtTerm Loan - MBT1— 1,749 8/31/20314.14%RecourseTotal— 1,749 Alerus Loan Parties DebtRevolver - Alerus6,050 — 8/28/2026Greater of 5.00% or 1-month SOFR + 2.00%7,950RecourseOverline Note - Alerus— — 10/31/2025Greater of 5.00% or 1-month SOFR + 2.00%3,000RecourseTerm Note A - Alerus9,827 — 8/15/2029Greater of 5.00% or 1-month SOFR + 2.00%RecourseTerm Note B - Alerus— — 8/15/2029Greater of 5.00% or 1-month SOFR + 2.00%RecourseTotal15,877 — Contrail DebtRevolver - ONB3,127 3,476 11/24/20251-month SOFR