AIRT - Air T offers up to 138000 shares

2023-03-28 16:49:14 ET

• Air T ( NASDAQ: AIRT ) said it plans to conduct an exchange offer for up to 138K of its shares of common stock at $0.25 par value per share in exchange for consideration consisting of newly?issued shares of Air T Funding 8% Alpha Income Trust Preferred Securities valued at their liquidation preference $25 per share.
• The distributions are payable quarterly on February 15, May 15, August 15 and November 15 of each year, beginning with the first payment to exchanging shareholders on August 15, 2023.
• Offer price represents a premium of 13% to 51% over current market price.
• Press Release

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