Current Report Filing (8-k)
November 08 2018 - 4:18PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 2, 2018
Air T, Inc.
(Exact Name
of Registrant as Specified in its Charter)
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Delaware
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001-35476
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52-1206400
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(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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5930 Balsom Ridge Road
Denver, North Carolina 28037
(Address of Principal Executive Offices)
(Zip Code)
(828)
464-8741
(Registrants Telephone Number, Including Area Code)
Not Applicable
(Former name or former address, if changed from last report)
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (
see
General Instruction A.2. below):
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☐
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Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17
CFR
240.14a-12)
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☐
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2
of the Securities Exchange
Act of 1934
(§240.12b-2
of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01
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Entry into a Material Definitive Agreement
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To the extent responsive, the information included in Item 2.01 is incorporated herein by reference.
Item 2.01
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Completion of Acquisition or Disposition of Assets
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On November 2, 2018, Contrail Aviation Support, LLC (Contrail), a 79%-owned subsidiary of Air T, Inc. (the Company), sold one used
CFM International, Inc. model CFM56-7B26 airplane engine. The transaction value exceeded $4,200,000. Also on November 2, 2018, Contrail assigned its lease in the same airplane engine.*
The airplane engine sold and leased as discussed above continues Contrails business of purchasing aircraft and/or aircraft engines for the purpose of
leasing or disassembling them and selling them for parts.
Transaction documents with respect to each transaction are filed as Exhibit 10.1 and Exhibit
10.2 hereto, which are incorporated herein by reference.
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Portions of each transaction exhibit are treated as confidential pursuant to a request for confidential
treatment filed by Air T, Inc. with the Securities and Exchange Commission.
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Item 9.01
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Financial Statements and Exhibits
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10.2
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Assignment, Assumption and Amendment Agreement, dated November
2, 2018, by and between Contrail Aviation Support, LLC, WWTAI AIROPCO II DAC, and Blue Air Aviation SA f/k/a Blue Air Airline Management Solutions SRL, assigning the Engine Lease Agreement, dated January 10, 2018.*
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*
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Portions of the exhibit are treated as confidential pursuant to a request for confidential treatment filed by
Air T, Inc. with the Securities and Exchange Commission.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: November 8, 2018
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AIR T, INC.
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By:
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/s/ Brett Reynolds
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Brett Reynolds, Chief Financial Officer
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