Air T, Inc. Announces Record Date and Proposed Distribution Date for Distribution of Alpha Income Preferred Securities and Warrants to Holders of its Common Stock and 50% Common Stock Divi...
Air T, Inc. (AIRT)
US:NASDAQ Investor Relations:
airt.net/investors
Company Research
Source: GlobeNewswire
DENVER, N.C., May 29, 2019 (GLOBE NEWSWIRE) -- Air T, Inc. (NASDAQ: AIRT) ("Air T") announced today the record date and proposed distribution date for its issuance and distribution of $4 million in face value of a new 8% fixed income security, Alpha Income Preferred (AIP), pro rata to existing holders of Air T common stock. The record date for the distribution (the “Record Date”) will be Tuesday, June 4, 2019, and the proposed distribution date will be Friday, June 7, 2019 at 5:00 p.m. Eastern time. The 8% AIP will be preferred securities of Air T Funding, a subsidiary trust formed by Air T. Concurrently, Air T stockholders as of the Record Date will also receive warrants (the “Warrants”) to purchase up to an additional $21 million in face value of 8% AIP at an exercise price equal to 96% of face value, exercisable for up to one year. If the Warrants are all exercised, there will be $25 million in face amount of 8% AIP outstanding. Air T currently expects that the AIP and the Warran
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AIRT
Sec Filings
- 4/5/24 - Form 8-K
- 4/4/24 - Form 8-K
- 4/4/24 - Form 8-K
- AIRT's page on the SEC website