Welcome to our dedicated page for Air T news (Ticker: AIRT), a resource for investors and traders seeking the latest updates and insights on Air T stock.
Air T, Inc. reports developments across a portfolio of aviation businesses and financial assets. Its recurring updates cover operating results, segment activity, completed acquisitions, and capital-structure actions tied to its common stock and Alpha Income Preferred Securities (AIRTP).
The company's operating areas include overnight air cargo services, aviation ground-support equipment manufacturing and maintenance, commercial aircraft engines and parts leasing and trading, digital aviation services, and Rex regional airline operations in Australia. Company announcements also address AIRTP distributions, investor presentations, material agreements, and governance changes.
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Air T, Inc. (NASDAQ:AIRT) announced a Modified Dutch Auction to exchange up to 138,000 shares of Common Stock for TruPs (8.0% Alpha Income Trust Preferred Securities) valued at $25.00 each. The exchange offer aims to provide shareholders with a premium (13% to 51%) over the current market price of $23.21 per share. This opportunity is available until July 6, 2023, and allows shareholders to choose how many TruPs they wish to exchange. The Board believes this offer benefits shareholders amid market volatility, as it represents approximately 4.9% of the outstanding shares.