Air T Inc. Secures $1.05 Million Term Loan for Royal Aircraft Services Acquisition with Alerus Financial

Reuters
05/22
<a href="https://laohu8.com/S/AIRT">Air T</a> Inc. Secures $1.05 Million Term Loan for Royal Aircraft Services Acquisition with Alerus Financial

Air T Inc. has entered into a significant financial agreement to support its latest acquisition. Effective May 15, 2025, its wholly-owned subsidiary, Mountain Air Cargo, Inc. $(MAC)$, completed the acquisition of Royal Aircraft Services, LLC, a Maryland-based company specializing in aircraft painting, maintenance, repair, and overhaul services. To facilitate this acquisition, Air T Inc. and its affiliated entities, including Air'Zona Aircraft Services, Inc. and others, secured Amendment No. 4 to their Credit Agreement with Alerus Financial, National Association, and Royal. This amendment includes Term Loan C, amounting to $1,050,000, which covers the full purchase price of the acquisition. The loan, maturing on May 15, 2030, bears interest at the greater of 5% or the CME one-month term SOFR rate plus 2.25%. Monthly payments will commence on June 15, 2025, at $12,500 plus accrued interest. This financial move underscores Air T's strategic expansion in the aviation services sector.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Air T Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000353184-25-000024), on May 21, 2025, and is solely responsible for the information contained therein.

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