Air T Inc | 8.00% Alpha Income Trust Preferred Securities Due 6/7/2049 (AIRTP)
Prospectus excerpt: This prospectus relates to the issuance by Air T, Inc., a Delaware corporation (the “Company,” “we,” “our” or “us”) of 8,400,000 shares of our Alpha Income Trust Preferred Securities (also referred to as the 8.0% Cumulative Capital Securities)?????, par value $2.50 per share (the “Capital Securities” or, individually each a “Capital Security”), upon the exercise of 8,400,000 warrants (the “Warrants”) to purchase an aggregate of 8,400,000 Capital Securities, and to the initial distribution of the Warrants. Contemporaneously with the effectiveness of this prospectus, we are distributing the Warrants registered hereunder to holders of our Common Stock as a dividend as well as Capital Securities that are not registered hereunder. In the dividend distribution, each holder of our Common Stock will receive (a) the number of Warrants per share of Common Stock that is equal to 8,400,000 divided by the number of outstanding shares of Common Stock on the date of the distribution, rounded to the nearest Warrant, and (b) the number of Capital Securities per share of Common Stock that is equal to 1,600,000 divided by the number of outstanding shares of Common Stock on the date of the distribution, rounded to the nearest Capital Security. The 1,600,000 Capital Securities distributed as a dividend are not registered hereunder. Each Warrant entitles the holder to purchase one Capital Security at an exercise price of $2.40 per Capital Security, which represents a discount on the $2.50 face value per Capital Security. We will receive the proceeds from the exercise of the Warrants.
Full Prospectus PDF », Secondary Prospectus PDF », AIRT Page »
|
Air T is a holding company. Through its subsidiaries, Co. operates in four industry segments: overnight air cargo, which operates in the air express delivery services industry; ground equipment sales, which manufactures and provides mobile deicers and other equipment products to passenger and cargo airlines, airports, the military and industrial customers; and commercial jet engines and parts, which manages and leases aviation assets, supplies surplus and aftermarket commercial jet engines and jet engine components, provides commercial aircraft disassembly/part-out services, commercial aircraft parts sales, procurement services and overhaul and repair services to airlines. Preferred: AIRTP Open the AIRT Information Page » |
|
|
Free Email Alerts: Get Dividend Alerts Get SEC Filing Alerts |
|