Air t, inc. announces exchange offer for up to 138,000 common shares in exchange for shares of air t funding 8.0% alpha income trust preferred securities (trups)

Company to conduct "modified dutch auction" for up to 138,000 common shares in exchange for trups; offer price between 1.05 and 1.4 trups per share represents a premium of 13% to 51% over current market price trups shares valued at liquidation preference of $25.00 per share with 8.0% distribution denver, nc / accesswire / march 28, 2023 / air t, inc. (nasdaq:airt) ("airt" or the "company") today announced its plan to conduct an exchange offer for up to 138,000 of its shares of common stock, $0.25 par value per share ("common shares"). the company will acquire common shares in exchange for consideration consisting of newly‑issued shares of air t funding 8.0% alpha income trust preferred securities valued at their liquidation preference $25.00 per share ("trups") (collectively, the "exchange offer").
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